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2.15 ​ ​E-commerce surges by third during coronacrisis
According to Yаndex.Market, the e-commerce client base increased 17mn people in April and 11mn people in May from the 46mn clients in early 2020​, implying increases of 37% and 17%, respectively.
Lockdown limitations created unseen tailwinds for e-commerce in Russia in terms of promoting services and reducing client acquisition costs, while demand tested the limits of the existing infrastructure.
Overall, the segment was RUB2tn last year, according to the Association of Internet Trade Companies, accounting for 6% of retail turnover in Russia vs. 10-15% for developed market peers.
As for e-commerce leaders, Wildberries attracted 6mn new users from mid-March, up 3x y/y, with its total client base reaching 30mn, while Ozon saw an almost twofold increase in its number of clients in April, reaching 2.7mn. The latest data points to a 7x surge in April, while lifting the limitations caused a certain cooling in May-June across the country.
Our focus is on the sustainability of the new client base and its redistribution between online and offline in the future.​ ​X5 Retail Group​ and​ ​Detsky Mir reported 3.5x-5.4x increases in online revenues during the restrictions and significantly increased their focus on the service.
For the former, e-commerce accounted for 3% of the total in Moscow and the Moscow region, while the latter saw 35% for the company countrywide.
2.16 ​ ​Ruble loses ground at the end of June on new sanction fears
The ruble’s record recovery in the past three months has stumbled on a new potential dispute with the US and a fresh round of sanctions.
22​ RUSSIA Country Report​ July 2020 ​ ​www.intellinews.com