The online trade market in Russia grew by 41% in 2024, reaching 9 trillion rubles, according to a report from Vedomosti. The publication cites Artem Sokolov, President of the Association of Internet Trade Companies (AKIT), who shared the figures.
According to AKIT, domestic online stores and marketplaces made up 97% of the total market volume. Cross-border trade accounted for the remaining 3%, with a turnover of 270 billion rubles.
Analysts Disagree on Actual Market Size
While AKIT estimates the market at 9 trillion rubles, some experts believe the actual figure is higher. Fedor Virin, a partner at Data Insight, confirmed the growth rate was around 40%. However, he argued the market volume likely reached 10 trillion rubles if cross-border trade is excluded.
Mikhail Burmistrov, CEO of Infoline Analytics, also disagreed with AKIT’s data. He projected the market would hit 11.4 trillion rubles by the end of 2024.
Marketplaces Drive Growth
Experts credit much of the market’s growth to the rise of online marketplaces. These platforms continue to attract Russian consumers, who are increasingly turning to them for product searches instead of traditional search engines.
Earlier, Avito Advertising reported that most Russians now begin their search for goods on marketplaces and classifieds sites rather than through search engines. This shift in consumer behavior is helping marketplaces maintain strong growth.
The 2024 growth highlights the evolving nature of Russia’s e-commerce market, with local platforms dominating domestic sales and cross-border trade remaining relatively small.
