in Digital Marketing, Russia, Trends

Russian Online Retail Growth Might Slow Down in 2014

russian-online-retail-growth-might-slow-down-in-2014

In 2014 Russian online retail market was predicted to reach $20.92 billion resulting in a 17.1% growth compared to 2013. This might be the first year when this metric will be lower for Russian by 3 percent points compared to the rest of the world as reported by Vedomosti.ru based on eMerketer analysis.

If this trend stays, in 2018 Russia will be demonstrating 3 times slower growth rate: 5.2% in Russia compared to 14.8% worldwide. For now Russia in still listed as one of the TOP 10 fastest growing online markets.

Based on the eMarketer analyst’s opinion, Russian market in slowing down firstly because of the fact that majority of online shoppers is located in big cities, where the market is almost saturated, and secondly due to the low number of large-scale local competitors, and thirdly, lack of the infrastructure has it’s negative impact on regional expansion.

Not all market professional agree with eMarketer analysis though, Online Retailers Association claim that in the coming future they foresee Russian online retail segment to grow by 25-30% annually.