A REVIEW OF THE DEVELOPMENT OF ELECTRONIC COMMERCE IN RUSSIA AND ITS IMPLICATIONS FOR SMALL BUSINESSES
Authors
Michael Olumekor
Ural Federal University
Sergey Polbitsyn
Ural Federal University
Keywords:
E-commerce, small business, electronic commerce in Russia, e-commerce development in Russia, origins of e-commerce, Russian economy, Russian e-retail, E-payment development
Abstract
This article provides a detailed review of the literature on the development of electronic commerce in Russia from its origins in 1997. The article reveals some very important milestones in Russia’s electronic commerce adoption, including the creation of Russia’s first electronic bookstore, the invention of Russia’s first e-payment system, and the start of Russia’s first fully e-commerce store. It also provides an analysis of the initial struggles of electronic commerce in Russia, and how the market has grown to become a 2.7 trillion ruble industry in 2020, making up 21 % of overall Russian retail. The implications of all of these on small businesses was also analyzed.
Author Biographies
Michael Olumekor, Ural Federal University
A doctoral student
Sergey Polbitsyn, Ural Federal University
A Professor of Innovation Management and Entrepreneurship
