2019 Marketplace Expansion Index

The ecommerce and sharing economies are booming. Thousands of fast-growth marketplaces are emerging all around the world.
This index examines the top 36 countries for ecommerce and sharing economy platforms to expand.

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Russia

2019 Rank # | 2018 Rank #

Big Mover

New

evolving

Russia

Operational complexity and cost complicate the path for global marketplaces to gain a foothold in this growing country.

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#34

Marketplace Expansion Index Rank

Up 1 Spot from 2018 Index Rank of #35

Pros

  • Sharing economy models are not regulated by legislation
  • Sharing economy opportunity expected to grow very quickly
  • Wide acceptance of newer economic models

Cons

  • 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

1

Massive Market Opportunity. Ecommerce penetration is only 3 percent despite high internet penetration rates and smartphone adoption.

2

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.

3

GOOOOAAALLLLLLL. Russia’s 2018 Football World Cup brought a major boost to sharing economy platforms. Yandex Taxi announced completion of 1 billion rides.

Ranking Highlights

For our full explanation, visit our methodology page

Infrastructure

5

The fundamentals of any society and enterprise, including: payment infrastructure, ease of doing business, and Logistics Performance Index.

Workforce

4

You’re only as good as your people. Factors in this category include: levels of English proficiency and participation in freelance employment.

Ecommerce Activity

6

This category assessed ecommerce opportunity size, retail ecommerce growth and ecommerce as a percentage of retail transactions.

Competition

7

The fate of foreign entrants, based on the volume of cross-border transactions and if a global marketplace dominates that geography.

Essential Reading

"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."