Russia's Online Retail Leader Says 'Amazon Has No Chance'
Russia has become the it girl of e-commerce. Even amid a slowing economy, the country’s online shopping increased 26 percent last year, to 510 billion rubles (about $14 billion), according to Moscow’s Data Insight, and could double by 2015. That has made the country an intriguing target for foreign players such as Amazon.com, EBay, Asos, and China’s Alibaba Group, while boosting the fortunes of such local companies as search engine Yandex and Amazon-like Ozon.
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