Russia is an important, fast-growing market for cross-border ecommerce. Expected to be worth $27.1 billion by 2023, the country has a young population, steadily increasing internet penetration
While there are still many unknowns today, it’s likely that customs checks will increase, logistics and supply chains will be delayed, and duties and tax rates will change. In this ebook, we outline scenarios to anticipate.
The pandemic has ushered in new behaviors and accelerated the rate of digital transformation and innovation for beauty brands. Even amidst the current economic uncertainty, there is a huge global opportunity for brands who can respond effectively. Thirty-six percent of consumers purchased beauty products online for the first time during the pandemic, and 73% said they would continue to do so.
While digital is a channel that many luxury houses have been slow to embrace, e-commerce is experiencing a significant boon. In fact, international online sales of luxury goods increased by 170% year-over-year in August and September 2020.
The Middle East is an attractive market for cross-border ecommerce retailers due to it being highly urbanized and wealthy, with governments that are investing heavily in the development of mobile user penetration,
logistics, and infrastructure.