RUSSIA E-COMMERCE MARKET
Main Business Partner
E-Commerce in the largest partner in CIS, Russia, is very attractive to investors!
Russia is a CIS country that has connections to both Europe and Asia. CIS, Commonwealth of Independent States, is a community containing 9 countries. The community covers an area of 20,368,759 km2.
CIS is also known as the “Russian Community” and has a population of 240 million. One of the dominant countries in international politics, economics, and sports along with U.S.A., China, and United Kingdom, Russia also has great potential in e-commerce.
Turkey’s policy is keeping a close relation and cooperating with Central Asian countries, Russia, and Caucasus countries. In 2019, there were steps towards improving commercial and financial relations with these regions. Especially between Russia and Turkey, there has been important trade agreements in the last 3 years. Turkey improving the structures of commercial and financial relations with the region also excites e-commerce investors.
According to Statista data, e-commerce market volume in Russia is expected to reach 24 billion dollars at the end of 2020. We’re talking about a market that is expected to exceed 32 billion dollars by 2025. These numbers show the potential of e-commerce market in Russia for retailers and those who want to enter the cross-border e-commerce market.
In CIS countries, Russia in particular, e-commerce is improving like in other countries. In e-commerce, Russia, which has a more global structure unlike daily politics, contains opportunities for cross-border e-commerce investors especially. E-commerce infrastructures in CIS countries along with Russia are developing in parallel with the world. The connection of the young generation with the internet and social media inevitably pushes the governments to e-commerce and digital transformation. For this reason, it would be a logical investment for e-commerce investors to lay the foundations of e-commerce in Central Asia or Turkic republics, especially in Russia and CIS countries!
“Russia E-Commerce Market Report”, prepared by WORLDEF Enterprise and Fortune Turkey, brings a global perspective on behalf of the e-commerce ecosystem in the largest partner in CIS, Russia. In the report, from the demographic and economic structure of Russia to the cross-border e-commerce market volume; you can find information on many topics from e-commerce marketplaces analysis to e-commerce consumer habits in Russia. I give my thanks to Bircem Özekici from WORLDEF Enterprise and Fortune Turkey who prepared this report that will provide vision to companies that especial aim to enter the e-commerce market in Russia.