E-Commerce in Russia Essay

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E – COMMERCE IN RUSSIA To start with, Ten years ago, when less than 10 million Russians were using the Internet, it was hard to imagine that this country would become Europe’s leading market by number of users with its own national champions – from Yandex, to Vkontakte, to OZON– dominating the scene. Vladimir Grankin is the President of Ocean Bank, a leading player in the Russian Online payment industry. Nowadays, E-commerce is very popular in Russia. Before going further, let u know that Russian is the biggest country in entire the globe. Additionally, if we include all Russian speakers (USSR) Soviet Union countries, simply half of the world is Russia. Therefore, basically it means the market is huge and the chances are high for e-commerce businesses in Russia. In fact, Sixty nine million people, or 59% of Russia’s adult population, connected on a monthly basis in the summer of 2013, according to the Public Opinion Foundation (FOM). Of them, 52.2 million people used the Internet daily. The Internet became popular in Russia significantly later than in advanced European countries such as Germany, Italy, Spain, France and Portugal with a mere 17% of the adult population connected in 2003 and 24% in 2007.Moreover, these days, Russia still lags behind most other European countries in terms of penetration, with roughly half of the adult population connected but Russia is catching up quickly, with an average annual increase in Internet users exceeding 13% over the last few years. In September 2011, Russia overtook Germany as the market with the highest number of unique Internet users in Europe. If growth continues at its current rate, it will take Russia less than a decade to reach the current levels of Europe's most connected countries. All in all, according to the Sociology Institute of the Russian Academy of Sciences, Russia's Internet penetration rate

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