Ozon, a Russian e-commerce platform, is expanding into India after opening branches in China and Turkey earlier the coming year. The brand hopes that entrepreneurs here can use the platform to start selling their products in Russia, its CEO said. According to local researcher Data Insight, Russia’s e-commerce market may exceed $100 billion in 2024, more than double the current market.
Online shopping is outpacing traditional retail in terms of growth. He said the number of online orders in Russia doubled last year, while the size of the e-commerce market grew by 52 percent in Rouble terms. Last year, Ozon opened local marketplaces in neighboring Belarus and Kazakhstan and began developing logistics infrastructure there. Ozon Global now sees great opportunities in expanding its partnerships to vendors from various countries, including China, Turkey and India. The CEO said he is already seeing demand among Russian consumers for various products from India, including health and beauty products, interior decorations, jewelry and clothing.