A new report by DIY online storefront creator InSales says Russians are big spenders on ecommerce and getting bigger
The latest numbers are in for the Russian ecommerce season ending the year 2013 and the final Value has it at $13.4B, according to Russian, Do It Yourself online storefront builder, InSales. In other words, the entire Russian online consumer market spent almost as much in all of 2013 as Mark Zuckerberg spent on WhatsApp.
The grass is a hundred billion times greener
The number was a 34% increase from the same measure for 2012. InSale has that figure climbing to $28B by 2016. These numbers are still a far cry from other more online-developed countries and regions such as the $300B for China, the $262B for the US and the $128B for the EU, all for the same period.
And yet, $13.4B is nothing to sneeze at. Or as older Russians are oft to say; ‘Ба́ба с во́зу — кобы́ла в ку́рсе’, loosely translated to, ‘When a woman gets off the cart, the horse will notice.’ I don’t think they meant online shopping cart, but still.
InSale also provides a breakdown of industry sector by contributing revenue. Take note etailers; the way to our Russian brethren’s hearts is through household appliances. Clothing and apparel come in second – and who said laptops are dead; laptops take 3rd to mobiles 5th with an unexpected car parts beating squeezing in 4th. Da, I said car parts.
From a consumer perspective, not surprisingly the bulk of purchases are centered in and around Moscow.
But what is surprising is the apparent democratization of the sellers market with comparatively proportional splits of the pie cutting across large, mid-sized and small retailer dividing lines. At least as far as ecommerce, Russia’s ‘middle class’ is at least as well off as their Western counterparts – if not more so.
Special credit to RUSBASE.com for their translation
Photo Credit: Shutterstock/ High Resolution E-Commerce Concept