Operational complexity and cost complicate the path for global marketplaces to gain a foothold in this growing country.Download the Full Index
Marketplace Expansion Index Rank
Up 1 Spot from 2018 Index Rank of #35
- Sharing economy models are not regulated by legislation
- Sharing economy opportunity expected to grow very quickly
- Wide acceptance of newer economic models
- High barriers to entry for foreign marketplaces
- Low “ease of doing business” ranking
- Global marketplaces have not been able to succeed against local marketplaces
Facts You Can't Forget
Massive Market Opportunity. Ecommerce penetration is only 3 percent despite high internet penetration rates and smartphone adoption.
Low Concentration. The top four ecommerce companies in Russia currently account for a mere 27 percent of the market vs. 63 percent in the US and 84 percent in China.
GOOOOAAALLLLLLL. Russia’s 2018 Football World Cup brought a major boost to sharing economy platforms. Yandex Taxi announced completion of 1 billion rides.
For our full explanation, visit our methodology page
The fundamentals of any society and enterprise, including: payment infrastructure, ease of doing business, and Logistics Performance Index.
You’re only as good as your people. Factors in this category include: levels of English proficiency and participation in freelance employment.
This category assessed ecommerce opportunity size, retail ecommerce growth and ecommerce as a percentage of retail transactions.
The fate of foreign entrants, based on the volume of cross-border transactions and if a global marketplace dominates that geography.
"Yandex wants an online marketplace that it’s launching, called Beru, to become one of the country’s top three platforms for locally-sourced goods by the end of 2020."
"Uber Technologies Inc. agreed in July to merge its operations in Russia and neighboring ex-Soviet republics into a joint venture, 59.3 percent owned by Yandex and 36.6 percent by Uber."
"The implementation of projects in the framework of the Guidelines for Financial Technologies Development will boost the digitisation of the financial sphere and raise the financial inclusion of households across all Russian regions."