Russian e-commerce will double in five years, who is the market leader?

Russian e-commerce will increase by 2 times in 5 years

A report released last month by Morgan Stanley showed that the e-commerce market for Russian physical goods will grow to $31 billion by 2020 and $52 billion by 2023, compared to $18 billion last year.

The report points out that the Russian Yandex and Mail.Ru groups are fighting for dominance.

It is understood that Yandex last year cooperated with Sberbank to create a huge e-commerce platform called "Beru", which is currently in the testing stage. This platform draws some inspiration from Amazon. Sberbank is the country's leading financial institution and is committed to investing $500 million in the joint venture.

Sberbank has a large customer base, accounting for 70% of the Russian population and 14 million outlets across the country. Yandex Market has 20 million Internet users and 11 million mobile APP users. In addition, Yandex Taxi has 400 million drivers and will be a potential distribution agent.