Chinese online vendors have won the lion’s share of Russia’s cross-border e-commerce business over competitors from Europe and the U.S., spurred on by the ruble’s continued decline and a recession that has prompted Russians to shop for less expensive items.
Chinese firms took 65 percent of Russian online orders from abroad in 2014, according to a report by the East-West Digital News. “In 2014, Russians placed about 50 million orders from Chinese online stores, up 40 percent from the previous year,” said Evgeniya Arnautova, press officer for the Russian payment platform Yandex.Money.
China wins online sales in RussiaRead More
Topics:
Analysis, Cross-Border Sales, E-Commerce, International
