In 2020 alone, sales on the platform almost doubled to some US$5.9 billion.Īs a result, the retailer now accounts for some 14% of the Russian e-commerce market – the country’s largest platform.Īchieving this dominant position was by no means a small feat. The pandemic has provided yet another opportunity for Wildberries to accelerate its growth. This local model has since proven central to Wildberries’ growth, with Bakalchuk herself stating that the company’s “strength is working with small businesses.” In 2014, Wildberries began to enlist a greater number of local producers, creating a marketplace akin to the Amazon model, wherein Wildberries took a cut of sales made by retailers on its platform and charged sellers for the use of its warehousing and distributing services. Yet Bakalchuk successfully navigated two crises, first in 2008, then in 2014, with the collapse of the Russian ruble, ensuring a place for her company among Russia’s fragmented e-commerce industry. Growth was not always a certainty for Wildberries. Wild growthīoasting a net worth of around US$13 billion, Bakalchuk is not only one of Russia’s richest women, but unlike many of Russia’s oligarchs, her wealth is not founded on the spate of privatization that occurred during the chaos of the 1990s following the collapse of the Soviet Union.Ī former English teacher, Bakalchuk founded Wildberries during her maternity leave in 2004, investing US$700 in a website to sell clothes, even delivering items to customers herself using public transport. With its impressive growth domestically, Bakalchuk’s Wildberries is now looking to expand into foreign markets where it will face multinational giant Amazon for the first time. All this despite the company’s humble beginnings operating out of Bakalchuk’s apartment. Wildberries, a Russian e-commerce retailer, also saw its business accelerate as a result of the pandemic, consolidating its position as the largest e-commerce platform in the country.įounded in 2004 by former teacher Tatyana Bakalchuk, Wildberries has since leapfrogged larger, better-financed competitors to become one of the country’s largest online retailers. In the fourth quarter of 2020, which includes the holiday season, the e-commerce provider reported revenue of US$125.56 billion, passing the US$100 billion mark during a quarter for the first time ever.Īmazon is not alone in seeing the benefits of the pandemic’s shift to e-commerce. haven’t been the only ones to profit.Ī report from International Business Machines Corporation’s (IBM) United States Retail Index in August 2020 suggested that the pandemic had accelerated the shift away from physical retail to digital retail by roughly five years.Īmazon, the largest e-commerce retailer and one of the most valuable global companies in the world, saw its business skyrocket as a result of the pandemic. The coronavirus pandemic has led to remarkable growth in the global e-commerce industry, but global giants like, Inc. Please enter a valid email address! Founded in 2004 by former teacher Tatyana Bakalchuk, Wildberries has since leapfrogged larger competitors to become one of the country’s largest online retailers.
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