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November 2018 www.intellinews.com I Page 6
cannibalisation remains a key risk for offline retailers,” Morgan Stanley concludes.
Battle of titans
The report justly underlines the rise of two players aiming for leadership, Yandex and Mail.Ru Group. The former has teamed up with Sberbank to create a huge e-commerce platform called Yandex.Market, as reported last year by East-West Digital News. Dubbed ‘Beru’ and currently in its beta version, this marketplace draws some of its inspiration from the Amazon model.
Sberbank, the country’s leading financial institution,
is committed to invest as much as $500mn in the joint venture.
Sberbank’s huge client base (70% of the Russian population), its 14,000 branches across the country, as well as Yandex.Market’s audience (20mn Internet users and 11mn mobile app users per day, respectively) are strong assets
for the project to succeed.
The Morgan Stanley analysts even see in Yandex. Taxi’s 400mn drivers (following the merger
with Uber Russia) as many potential e-commerce delivery agents.
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