Demographics

Spread over an area of 17,098,242 km2, Russia is the largest country in the world. More than 146.73 million people reside on the land, making it the 9th most populated globally, though the yearly increase is only 0.04%, which is a lot less than others on the list of top 10. The world’s largest country is home to various ethnicities like Russians, Ukrainians, Chechens, Tatars, Bashkirs, and Chuvash, including the 4.7 million people who migrated to the region in 2019. 

The Russian Federation is a transcontinental country and spans over Northern Asia and Northeastern Europe. 77% of the country’s total territory is in Asia, whereas the 23% western patch extends through Northeastern Europe. It is famous for its magnificent museums, great culture, and some of the most phenomenal artists from Russia.

The country possesses 118 million internet users, out of which 70 million are active social media users with a penetration of 81% and 48%, respectively. 91% of people own a smartphone and use it to access the internet.

Average Salary

The average salary of a full-time working adult in Russia comes around 104,000 RUB per month, considering the lowest average wage to be 26,200 RUB and the highest average to be 463,000 RUB every month. 

E-commerce in Russia

The Russian e-commerce market is quite fragmented and is experiencing growth in the past years. The e-sales in 2020 hiked to 11% from the previous 7%. However, the stats are not satisfactory according to the Russian e-commerce experts as they expected it to reach a higher number as the USA has a 19% e-commerce penetration. One hundred two million people in the country use a mobile phone, and 40% make purchases through them, making way for m-commerce. Overall, 60% of the population purchases online products through laptops and smartphones collectively. 

Payment Gateways in Russia

39% of people, including men and women, make online payments in the country by one or the other payment gateways like credit cards, internet banking links, and digital wallets. The most commonly used digital wallets are Qiwi wallet, Yandex.money and, Paymetric, etc. 

Popular Products

It won’t be an exaggeration to say that a huge chunk of the overall money spent on shopping globally comprises of clothing and electronics apart from travel. The e-commerce statistics in Russia show some similar trends. It is observed that 433.14 billion RUB spent purchasing apparel and beauty products, and the electronic industry earned 332.05 billion RUB through e-commerce sales. The Russian Federation citizens spent 1773.9 billion RUB on traveling and accommodation through e-commerce.

Future of E-commerce in Russia

The future of e-commerce seems bright in Russia as the Russian Federation is trying to increase e-sales by various means. The Russian e-commerce market is expected to generate revenue of US$25,994 million by the end of 2021 with 45.3% market penetration. Moreover, an annual growth of 5.2% would enable the e-sales to reach US$31,809 million in 2025. The average revenue per user (ARPU) is projected to be US$393.46.

Fig. Future of e-commerce in Russia

Dropshipping to Russia

Dropshipping to Russia is an excellent option if you are looking to expand your business. Reaching such a massive volume of people at one would benefit the e-sales drastically. Wefullfill dropships packages to Russia in 10-15 business days through the best courier service, without any shipping charges.