PRESS: Wildberries, Ozon may outstrip AliExpress by 2020 turnover
MOSCOW, Feb 12 (PRIME) -- Russian Internet stores Wildberries and Ozon may outstrip AliExpress, the current e-commerce leader in the country, by turnover in 2020, business daily Kommersant reported on Wednesday, quoting a J.P. Morgan research.
Wildberries and Ozon are now closer to AliExpress Ц working locally through AliExpress Russia, a joint venture of ChinaТs Alibaba Group, the Russian Direct Investment Fund, Internet company Mail.ru Group and mobile operator MegaFon Ц by revenue, the number of users, and monthly audience of websites, said J.P. Morgan Cazenove, a unit of J.P. Morgan Chase.
In December 2018, AliExpressТs audience exceeded the one of the Russian floors by 70Ц105%, while in December 2019, the gap shrank to 6Ц8%. AliExpress had 18.3 million users, and Wildberries and Ozon had 17.2 million and 16.9 million users respectively.
Success of AliExpress in Russia forced domestic peers to revise their strategy, increased investment in logistics and delivery to U.S.$500 million in 2019 from $50 million in 2015†to boost their warehouse capacities and the number of pickup points, the bank said.
The countryТs e-commerce market, including local trade and cross-border, increased 25% in 2019 to 2.07 trillion rubles, and users made 814 million orders.
(63.9490 rubles Ц U.S. $1)