Page 156 - RusRPTMar23

9.1.7 TMT sector news
The total volume of the e-commerce market in Russia in 2022 was RUB4.98 trillion ($66.6bn), up by almost 30% year on year, according to the data by the Association of Internet Trading Companies (AKIT).
To compare, in 2021 the market grew by 40% y/y and AKIT expects the market to expand by 25%-30% in 2023.
As followed by bne IntelliNews, the market leader Wildberries posted gross merchandise volume (GMV) growth of 98% y/y in 2022 to RUB1.7 trillion, accounting for more than third of the total market share.
As followed by bne IntelliNews, even prior to Russia's invasion of Ukraine it was already suggested that the "big four" Russian e-commerce operators AliExpress Russia, Wildberries, Ozon, Yandex.Market and Beru (SberMarket of Sberbank) were set to outgrow the market and face imminent market consolidation.
According to AKIT, the share of sales through domestic trading platforms was 96.4%, while the share of cross-border trade was recorded at 3.6%, down significantly versus 13% seen at the beginning of 2022.
E-commerce accounted for 11.6% share in total retail trade turnover, as compared with 9.2% at the beginning of 2022, which confirms that “parallel
156 RUSSIA Country Report March 2023 www.intellinews.com