Russian Ecommerce To Be Worth €16 Billion In 2017

The Russian ecommerce market is growing strongly and is predicted to be worth almost 16 billion Euros by the end of 2017. This is according to research by Russian Post and the Association of Internet Trade Companies (or AITC). The research found that Russians spent the equivalent of 7.2 billion Euros online in the first half of this year, an increase of 22% on the same time period in 2016. Cross-border ecommerce is experiencing especially rapid growth, having increased by 34% in the first half of this year compared to last year. Cross-border ecommerce is set to account for 37% of all online sales this year, equivalent to over 6 billion Euros. Looking at where these cross-border online shoppers are shopping, China is the most popular destination. Russians bought 90% of their foreign online goods from Chinese websites, with EU websites coming in at just 4%, followed by US websites at 2%.