Russia

Russia

General Information

  • Population 145.9m
  • Population 15 + 117.7m
  • Online Population 124.0m
  • Area 17,098,246 km2
  • Currency RUB
  • GDP 1,473.6bn USD
  • GDP per Capita 10,037 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"51"},{"label":"Cash-based payments","value":"5"},{"label":"Bank transfer","value":"11"},{"label":"Wallets","value":"29"},{"label":"Other","value":"4"}]
Banked population
  • Russia 76%
  • Eastern Europe & The Commonwealth of Independent States 67%
  • World 67%
Credit card penetration
  • Russia 20%
  • Eastern Europe & The Commonwealth of Independent States 18%
  • World 19%
Internet penetration
  • Russia 85%
  • Eastern Europe & The Commonwealth of Independent States 78%
  • World 62%
Smartphone penetration
  • Russia 73%
  • Eastern Europe & The Commonwealth of Independent States 60%
  • World 70%

The biggest online reseller in Russia is Wildberries with
413.2 bn rubles in sales in 2020. Wildberries has a unique selling point; clothing purchased online is sent to a pickup location where it can be tried on. Only clothing taken home is paid for. Wildberries is now spreading out of Russia and into Europe.

The Russian government, in July 2021, signed into law a regulation that obliges social media companies to open offices in Russia. Experts believe this will not only affect social media platforms but also some retail and e-commerce companies.

Russian GDP is forecast to grow by 3.2% in 2021 and 2022 according to the World Bank. However, the Russian finance minister warned in June 2021 that the economy shows signs of overheating which would lead to a rise in inflation.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 55.3
2022 70.9
2023 86.6
2024 101.9
2025 115.8
E-Commerce spending per capita ($US)
2021 391
2022 493
2023 604
2024 712
2025 810
E-Commerce spending as % of GDP
2021 3.7
2022 4.4
2023 5.1
2024 5.6
2025 6.0

Russia

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: NA | 25%
  2. Electrical Goods: NA | 16%
  3. Clothing & Footwear: NA | 11%
  4. Homeware & Furniture: NA | 9%
  5. Health & Beauty: NA | 8%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 21%
  2. Value of cross-border e-commerce ($US billion) – 9.7
  3. % of online shoppers who have shopped cross-border – 58%

Top 3 cross-border shopping origin markets

  1. China: 83%
  2. USA: 5%
  3. Germany: 2%
E-commerce % of total retail
  • Russia 11%
  • Eastern Europe & The Commonwealth of Independent States 6.3%
  • World 20%
E-commerce completed on a mobile device
  • Russia 35%
  • Eastern Europe & The Commonwealth of Independent States 34%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
  • Other
[{"label":"Visa","value":"33"},{"label":"Mastercard","value":"39"},{"label":"Local Schemes","value":"27"},{"label":"Other","value":"1"}]
  • E-commerce market size ($US billion) 46.4bn USD
  • E-Commerce spending per capita ($US) 322 USD
  • E-commerce spending as % of GDP 3.3%

Russia

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PayU Type Bank transfer Regions Asia Pacific + 4 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Masterpass Type Wallet Regions Asia Pacific + 5 Market relevance High MIR (National Payment Card) Type Local payment card Regions Eastern Europe & The Commonwealth of Independent States Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High MTS Money Wallet Type Wallet Regions Eastern Europe & The Commonwealth of Independent States Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific + 5 Market relevance High QIWI Wallet Type Cash, Wallet Regions Eastern Europe & The Commonwealth of Independent States Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High WebMoney Type Wallet Regions Asia Pacific + 3 Market relevance High YooMoney Type Wallet Regions Asia Pacific + 2 Market relevance High Huawei Pay Type Wallet Regions Asia Pacific + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium Wallet One Type Wallet Regions Asia Pacific + 4 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 Moneta.ru Type Wallet Regions Eastern Europe & The Commonwealth of Independent States NETELLER Type Wallet Regions Asia Pacific + 5 Splitit Type Instalments Regions Asia Pacific + 5

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