Despite the economic difficulties and general decrease of activity in the market, turnover of Russian e-commerce increased by 28% in the first half of 2015, reports Vedomosti [in Russian] referring to the latest research from Data Insight. The research concludes that turnover of Russian e-commerce in H1 of 2015, excluding digital goods, tickets as well as cross-border purchases, landed at 305 billion Russian rubles (approx. 3.9 BN Euro).
Russian e-commerce market has been growing at a similar pace for the last few years – 25% in 2o13 and 31% in 2014 – however the source of growth in 2015 is different. In the past the turnover of e-commerce market was increasing due to larger amounts of purchased goods. In 2015 the turnover increased mainly because ruble inflation lead to higher prices. Average cheque increased by 19% – to 4200 rubles (approx. 53 Euro), while the number of purchases – only by 9% landing at about 73 million orders, according to Data Insight.
Although some verticals saw decline in traffic levels (clothes and shoes websites’ traffic went down by approximately 10%, estimate Data Insight), conversion rates increased in general, up to 1.5-2 times for some of the retailers. For example, turnover of online fashion retailer Lamoda increased by almost 50%, according to “Vedomosti”.
Similar trend was seen in the largest segment in Russian e-commerce – consumer electronics. Online sales of one of one of the biggest retailers M-video increased by 29.2%, another one – Euroset – by 48%. This is partly due to reduced competition in the market, say analysts, and partly due to consumers becoming more price-sensitive and searching for better deals online.
Data Insight estimate that the growth of Russian e-commerce sector will continue during the rest of 2015 and will reach 20-25% by the end of the year.
A big part of Russian e-commerce market – cross-border e-commerce – in not included in the report, but in reality local retailers are facing serious competition from the international brands. In 2014 about 25% of all online orders valued at 85 billion rubles (approx. 1.14 BN Euro) were made cross-border. In 2015 the percentage is expected to be even higher.