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Eastern Economic Forum

Russian online sales market may gain 40% in 2024 — expert

According to the AKIT estimates, online retail sales in Russia gained 28% annually to $73.1 bln in 2023

VLADIVOSTOK, September 4. /TASS/. The Russian online sales market may be over nine trillion rubles ($102.8 bln) this year, President of the Russian Online Retail Association (AKIT) Artyom Sokolov told TASS on the sidelines of the Eastern Economic Forum (EEF).

"We estimate the online sales market this year to the amount of more than nine trillion rubles, of which about 1.5 trillion rubles ($17.1 bln) to be accounted for delivery of read-made food and foodstuff from stores," Sokolov said.

According to the association’s estimates, online retail sales in Russia gained 28% annually to 6.4 trillion rubles ($73.1 bln) in 2023. The market soared by 41% year on year during the first six months of the year and such dynamics will remain until the year-end in absence of any dramatic changes. Online sales will therefore reach the figure over nine trillion rubles.

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