Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Russia Ecommerce Market is Hot

The Russian eCommerce market is ripe for more products and loves to pay with online CASH

Emerging Markets
Russia is an Emerged Market and part of the BRIC (Brazil, Russia, India, China); four countries in a similar stage of advancing economic development. (See other related World Market Blogs). I would like to share a few points on Russia from a recent article in The Economist. It emphasizes the consumer demand for eCommerce products and it defines how the Russian consumer is in tune with the cash-based online payment programs offered in their country.

According to The Economist, Russia’s e-commerce buyers prefer to pay for online purchases with cash. With online participation up by 14% in the last year, Russia is home to Europe’s biggest online population. This is with an Internet penetration rate of just 37.1 percent, nearly half that of nearby France and Germany.

The Economist notes that Russia is certainly an eCommerce market worth keeping an eye on. I fully agree, and strongly suggest you include Russia in your target market list for review and analysis. I also recommenced you review the many World Market Blogs that address marketing and regional economies.

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References:
http://pymnts.com/briefing-room/commerce-3-0/The-Wacky-Ways-of-Russian-eCommerce/
http://www.economist.com/node/21555560
https://www.cia.gov/library/publications/the-world-factbook/index.html
http://www.internetworldstats.com/
http://www.slideshare.net/Gemius_com/ecommerce-in-ukraine-trends-and-attitudesminireportjuly-2011
http://www.imrg.com/ImrgWebsite/IMRGContents/Files/UkraineCountryProfile_july11_uk_executive_summary.pdf
http://ec.europa.eu/information_society/activities/internationalrel/docs/pi_study_rus_ukr_arm_azerb_bel_geor_kaz_mold/3_ukraine.pdf
https://www.cia.gov/library/publications/the-world-factbook/geos/up.html
https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html