Russian e-commerce venture SberMarket’s transaction volumes triple

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Nov 12 (Businesshala) – The e-commerce arm of Russia’s largest lender, Sberbank (SBER.MM), said on Friday that its transaction volume tripled in the third quarter, thanks to a slew of services including express delivery. Helps from a wide range.

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Sberbank became a majority shareholder in SberMarket in January after buying a stake from its joint venture with Internet company VK (MAILRq.L), known as Mail.Ru Group, before rebranding last month.

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The gross trading value (GMV) of SberMarket, an e-commerce measure of transaction volume, rose to 14.5 billion rubles ($203.75 million) in July-September. The number of orders increased more than four times to 5.994 million.

Express deliveries accounted for 24% of total orders.

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GMV in the first nine months of this year reached 36.2 billion rubles, which is three times more than in the same period a year ago.

Last month, AliExpress Russia, an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners, reported GMV of 133.3 billion rubles for the first half of the 2021-22 fiscal year, up 36% year-on-year .

($1 = 71.1640 rubles)

Reporting by Olga Popova, Writing by Anna Rzhevkina; Editing by Steve Orlofsky

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