Page 24 - bne_September 2022_20220802

24 I Companies & Markets bne September 2022
Russian e-commerce turnover up 1.5-fold in 1H22
bne IntelliNews
The volume of sales by Russian e-commerce expanded 1.5-fold y/y in the first half of 2022 to RUB2.2 trillion ($36.4bn), the Association of Internet Commerce Companies said on August 11, reports TASS.
"Total online commerce amounted to 2.3 trillion rubles ($38.1bn) (an increase of 43% y/y) – this was the sum spent by Russians on Russian and foreign online platforms. The domestic market accounts for 2.2 trillion [rubles] from this amount, which is 50% more than in the like period of the last year," the association said as cited by the Russian state- owned newswire.
After the leading international brands withdrew from Russia shoppers have turned to their favourite e-commerce sites to find their favourite products.
The top five positions in the rating of goods purchased online comprise electronics and household appliances (22% of the total online commerce volume), followed by furniture and home goods (17.7%), apparel and footwear (13.9%), foods (13.5%) and beauty and wellness products (7.5%).
Following the imposition of sanctions and the voluntary withdrawal of hundreds of international brands, Russians have turned to the e-commerce sites to buy now hard-to-find foreign brands. The leading sites, including Wildberries and Ozon, have been setting up parallel imports, sourcing goods from non-participating countries like Turkey, to provide their customers with the international brands.
E-commerce transactions in Serbia up 29% y/y in 2Q22
bne IntelliNews
The number of online transactions to buy goods and services in Serbia in all currencies totalled over 9.8mn in the second quarter of 2022, which is nearly 29% more year on year, the central bank said on August 16.
The growth shows the increasing popularity of e-commerce in Serbia.
The number of purchases via internet sites in the local currency, the dinar, was 6.9mn or 26.1% more than in the second quarter of 2021.
The value of these transactions amounted to RSD18.4bn (€156.7mn) or 40% more than in the same period in 2021.
Transactions made in euros recorded a similar trend as in the previous quarter, while compared to a year ago, the growth in the number of transactions was 56.2% to over 1.6mn, and their value soared by 86.24% to €95.1mn.
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Payments in US dollars recorded somewhat weaker growth dynamics. Compared to the same period last year dollar payments were 14.7% higher for the number of transactions (1.05mn) and 19% when it comes to their value ($33.8mn).