Russian retailer M.Video to open marketplace Goods in Jul–Dec

MOSCOW, Feb 16 (PRIME) -- Russian electronics retailer M.Video will launch its own online trading floor, called Goods, in July–December, the marketplace’s General Director Solomon Kunin said Thursday at a news conference.

“We’re going to test it up to the middle or end of the second quarter. We are scheduling a commercial start of the project with advertisements and promotion for the second half of 2017. At first, we’ll concentrate on Moscow and the Moscow Region, and then we’ll develop in big cities,” Kunin said.

The marketplace will start working in cities with the population of over 1 million by the end of 2020. In the mid-term, Goods intends to become one of the e-commerce leaders with the market share of at least 15%.

At the first stage, Goods will offer household appliances and electronics, as well as children’s goods. It will be equipped with tools to compare prices and allow clients to make a single order with purchases from different sellers.

Goods will charge sellers a commission under the cost-per-sale model. The platform now has nine stores-partners, including M.Video, while 30 more stores are at the stage of legal procedures to join the project, and active talks are being held with 120 stores.

The marketplace wants to sign contracts with 400 stores in 2017.

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