Russian government may ban online shopping

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Russian government may ban online shopping

11-06-2019 16:31

Russian government may ban online shopping

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Russian government may ban online shopping

A lot of Russians found a way to cut the expenditure in online shopping. However, they can lose this opportunity soon. Many people cannot afford to buy goods in shops because of low income and huge markups. That is why they prefer to shop online. According to statistics, the number of Russians using online retailers’ services grows steadily. Any finance always attracts government interest. The association of online retailers reported an increase in this sector of the Russian market by more than 60% - up to 1.66 trillion roubles - since 2010. It is a serious reason for officials to pay attention to online purchases. The government promptly elaborates new rules and restrictions for online shopping which will affect the value of the goods and customers.

Among the suggestions, there is even a total ban on purchases from the world’s largest trade platforms and a hike in the postage rates to deliver these purchases.

Obviously, such actions of authorities will have a negative impact on online purchasing. Until then, statistics amazes.

Ozon management informed that the company’s turnover soared by 73% and the number of orders by 85% last year. Food together with beauty and health goods are in the greatest demand among Russian people. However, even with such rapid growth, Russia’s market will never catch up with China and the US. The volume of these markets is unreachable. Online purchases in the US amounted to 153.6 trillion dollars, in China - 1.33 trillion dollars.

Considering the average annual exchange rate, the volume of the Russian market turned out to be only 26.4 billion dollars.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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