Digital Commerce in Russia

PROSPECTS

Digital commerce records strong growth

In 2019, digital commerce continued to see strong double-digit current value sales growth. Remote digital commerce is growing rapidly, but it is far from saturation and lags behind its regional peers.

Retailing, transport and consumer foodservice have the most potential

In 2019, retailing continued to drive digital commerce within both the proximity and remote environments, while consumer foodservice reached a reasonable level of development within the proximity environment. Both industries still have room for growth in both proximity and remote digital commerce.

The potential of proximity digital wallets remains untapped

In 2019, all the largest global proximity digital wallets, namely Apple Pay, Samsung Pay and Google Pay, as well as domestic digital wallet Mir Pay, were present in Russia. Russian consumers were moving towards a cashless society with non-cash alternatives such as cards and mobile wallets, while the major trend in the payment landscape was contactless payment methods.

COMPETITIVE LANDSCAPE

Mir Pay roll-out enabled by rapid adoption by the banks

In March 2019, Mir Pay was finally launched by NSPK AO, which had been developing it since April 2018. Following the launch, banks actively jumped on the opportunity and enabled Mir Pay for clients, with the total number of banks supporting the digital wallet having reached 47 by the end 2019.

Opportunities for domestic voice assistants remain limited

Since the launch of the first voice assistant, Alisa, by the country’s biggest technology company Yandex OOO in 2017, its role has not gone further than a tool for providing information. Other domestic voice assistants such as Marusya by Mail Group PAO and Oleg by Tinkoff Bank are also in the initial stages of developing voice capabilities.

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