A digital marketing expert has stated that there is a “huge opportunity for future growth” in the Russian e-commerce market.
Yusuf Bhana, writing for business2community.com this week, commented: “In 2012, Russian internet penetration was estimated to be just 51 per cent. This means that there is still a significant opportunity for growth as new users and communities are connected to the internet and begin to shop online.”
There is scope for increased profits from the market in the next few years due to the fact that Russians are big spenders, as stated in the article. Several recent reports have found that Russians spend more than their European neighbours. Increased real wage growth in the country of late also means Russian residents have more disposable income to spend.
The fact that Russia is such a large country is as another reason why growth opportunities for e-commerce sales in the country could be so vast. With a population of 143.5 million, there is a huge audience in which to sell. This is extremely attractive to brands and advertisers.
It was also reported by cnbc.com this week that e-commerce sales are expected to grow by 45 per cent in Russia by 2017, with this forecast appearing in an eMarketer report.