E-Commerce

Is the Kremlin betting on Wildberries to consolidate e-commerce as foreign players exit Russia?

In the first nine months of 2022 Wildberries saw turnover increase 95% year on year to over RUB1 trillion (around $16.5bn). The online retailer has enjoyed a wildly successful couple of years, it now dominates the Russian market and is almost twice the size of its closest competitor. Indeed, while it may not be a household name in the West, Wildberries …

Is the Kremlin betting on Wildberries to consolidate e-commerce as foreign players exit Russia? Read More

Ozon keeps 2022 80% turnover growth forecast, but losses increased in H1

One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown, Tass reported on August 23. E-commerce sites have benefited from the war as consumers have gone online to find goods that have disappeared from the stores after some …

Ozon keeps 2022 80% turnover growth forecast, but losses increased in H1 Read More

Russian e-commerce up 50% in H1 2022

The volume of online sales of physical goods in Russia grew 1.5-fold year-on-year in the first half of 2022 to 2.2 trillion ($27.5 billion at the pre-war exchange rate, or $36.4 at the current one), the Association of Internet Commerce Companies said on August 11, as reported by TASS. “Total online commerce amounted to 2.3 trillion …

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While failing to redeem some bonds, Ozon plans to reach operational break-even in next 12 months

Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …

While failing to redeem some bonds, Ozon plans to reach operational break-even in next 12 months Read More

Russian IT major Lanit pours 3 billion rubles into B2B online store

Itogo.ru, an online B2B and B2C seller of electronic goods and home appliances — from smartphones to microwave ovens — has raised 3 billion rubles from Lanit Ventures. This fund, the historic investor of Itogo, is the venture arm of Lanit, a major Russian IT group. By Russian standards, this is a sizeable amount (around …

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After online orders doubled in 2021, Russian e-commerce keeps positive track in time of war

Russia’s domestic e-commerce market grew by more than 50% last year, reports research agency Data Insight, reaching 4.1 trillion rubles (around $55 billion at the average exchange rate). No less than 1.7 trillion orders were made, more than doubling (+104%) year-on-year — in which Data Insight sees an all-time record.  Online sales accounted for some …

After online orders doubled in 2021, Russian e-commerce keeps positive track in time of war Read More

Naspers’ OLX no longer involved in operations of Russian subsidiary Avito

Avito, Russia’s leading classifieds platform (a subsidiary of OLX Group, owned by Naspers affiliate Prosus), will operate as an independent Russian business,  “We can confirm OLX Group has taken a decision to cease all involvement in its Russian operations. The separation process is underway which will decouple the companies into two independent entities. Avito will operate …

Naspers’ OLX no longer involved in operations of Russian subsidiary Avito Read More

Russian e-commerce major Ozon rules out any default risk, but trading still suspended on Nasdaq

Just weeks after warning of a potential bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.” “We see loyalty on the part of [securities …

Russian e-commerce major Ozon rules out any default risk, but trading still suspended on Nasdaq Read More

Amazon suspends access to Prime Video in Russia, halts shipments to the country

Amazon is suspending access to Prime Video for customers based in Russia amid the country’s invasion of Ukraine. In a blog post about the announcement, the company also noted that it has suspended the shipment of retail products to customers based in Russia and Belarus. Amazon will also no longer be accepting new Russia and Belarus-based AWS …

Amazon suspends access to Prime Video in Russia, halts shipments to the country Read More

With 24 million deliveries in 2021, SberMarket asserts leadership in Russian e-grocery

SberMarket, a delivery service owned by Sber, the state-controlled financial and digital giant, claims to have tripled its turnover in 2021 to 58.6 billion in 2021 ($800 million at the average exchange rate of the year, including VAT and excluding promotions). The number of delivered orders quadrupled to 24 million in the course of the …

With 24 million deliveries in 2021, SberMarket asserts leadership in Russian e-grocery Read More

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