Russia

Russia

General Information

  • Population 145.9 m
  • Population 15 + 119.1 m
  • Online Population 117.1m
  • Area 17,098,246 km2
  • Currency RUB
  • GDP 1,703.0 bn USD
  • GDP per Capita 11,671 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"54"},{"label":"Cash-based payments","value":"3"},{"label":"Bank transfer","value":"13"},{"label":"Wallets","value":"25"},{"label":"Other","value":"5"}]
Banked population
  • Russia 81%
  • Eastern Europe & the CIS 67%
  • World 67%
Credit card penetration
  • Russia 23%
  • Eastern Europe & the CIS 18%
  • World 19%
Internet penetration
  • Russia 80%
  • Eastern Europe & the CIS 78%
  • World 62%
Smartphone penetration
  • Russia 75%
  • Eastern Europe & the CIS 60%
  • World 70%

E-commerce is booming in Russia following the invasion of Ukraine and the sanctions placed against the country. Ozon, one of Russia’s top e-commerce companies, has posted a 73% increase in revenue for the first half of 2022, but is also suffering a higher level of losses at 19%.

A study carried out by Vox showed that Russian cross border e-commerce suffered a significant drop following the onset of sanctions. Imports from the EU, US and other countries dropped from USD1.59m daily to USD586,300.

And the Russian Ministry for Economic Development have stated that Russian cross border e-commerce in April 2022 dropped by 30-35% compared to the same month in 2021.

Russia has been cut off from the international payment system Swift; Mastercard, Visa and American Express no longer process any international payments from Russia, and PayPal have put a halt on all Russian accounts.

Future e-commerce trends (2021-2026)

E-Commerce market size forecast ($US billion)
2022 66.0
2023 74.6
2024 81.8
2025 89.1
2026 96.4
E-Commerce spending per capita ($US)
2022 460
2023 520
2024 572
2025 624
2026 677
E-Commerce spending as % of GDP
2022 4.0%
2023 4.3%
2024 4.5%
2025 4.7%
2026 4.9%

Russia

The E-Commerce Market

Top e-commerce segments

  1. Electronics & Media: 30%
  2. Fashion: 24%
  3. Toys, Hobby & DIY: 19%
  4. Furniture & Appliances: 14%
  5. Food & Personal Care: 13%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 31%
  2. Value of cross-border e-commerce – 17.1 bn USD
  3. Online shoppers who have shopped cross-border – 68%

Top 3 cross-border shopping origin markets

  1. China: 69%
  2. US: 17%
  3. Germany: 8%
B2C E-commerce Growth 20->21
  • Russia 29.9%
E-commerce % of total retail
  • Russia 12%
  • Eastern Europe & the CIS 6.3%
  • World 20%
E-commerce completed on a mobile device
  • Russia 39%
  • Eastern Europe & the CIS 34%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
  • Other
[{"label":"Visa","value":"34"},{"label":"Mastercard","value":"37"},{"label":"Local Schemes","value":"27"},{"label":"Other","value":"2"}]
  • E-commerce market size 59.5 bn USD
  • E-Commerce spending per capita 413 USD
  • E-commerce spending as % of GDP 3.8%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Russia

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High MIR (National Payment Card) Type Local payment card Regions Eastern Europe & the CIS Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High MTS Money Wallet Type Wallet Regions Eastern Europe & the CIS Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High QIWI Wallet Type Cash, Wallet Regions Eastern Europe & the CIS Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High YooMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS + 1 Market relevance High Huawei Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Wallet One Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Moneta.ru Type Wallet Regions Eastern Europe & the CIS NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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