The prices of goods on Russian e-commerce platforms have risen sharply!

After the outbreak of the Russia-Ukraine war, a large number of brands chose to withdraw from the Russian market, and Russia's economic development was also affected to a certain extent. According to foreign media reports, the prices of goods on some major Russian e-commerce platforms also rose sharply after the war began.

MPSTATS, an analysis service, studied the prices of Wildberries products between February 27 and March 10 and found widespread price increases, with food, jewelry and home appliances seeing the most significant price increases, at 19.1%, 11.9% and 10.4% respectively .

According to MPSTATS data, the price of coffee beans on the Wildberries platform has increased by 92-112%, the price of infant formula and milk has increased by 61-127%, and the price of olive oil has increased by about 67%. Among household appliances, dishwashers, blood pressure monitors, electric toothbrushes, and vacuum cleaners are in particularly high demand. The prices of men's and women's clothing have also increased slightly, by 7% and 2.4% respectively.

Experts from the MPSTATS analytical service believe that due to economic instability, there has been a wave of hoarding among Russian consumers. Many sellers have taken advantage of this trend to raise prices, but there are also some distributors who have reduced prices to increase product sales.

According to MPSTATS , a seller on the Wildberries platform reduced the price of coffee machines by 15-30%, and the sales of his products increased by about 1000%. Gala Goldberg, business development director of MPSTATS, said: "A series of events that have occurred in the past few weeks are affecting the Russian market. At present, sellers who remain in the market also need to change accordingly ."

In addition to Wildberries, prices on AliExpress are also rising. AliExpress consumers told Chita.Ru that against the backdrop of the military operation in Ukraine, prices on AliExpress goods in Russia have almost doubled.

On the AliExpress platform, the price of PSP game consoles increased from 1,100 rubles to 2,300 rubles, lipsticks increased from 314 rubles to 645 rubles, women's clothing increased from 1,500 rubles to 2,800 rubles, and laptop adapters increased from 500 rubles to a maximum of 1,000 rubles...

Some netizens commented that in addition to a large number of brands leaving the Russian market, the depreciation of the ruble is also the reason for the sharp increase in product prices on Russian e-commerce platforms. With the rise in the US dollar exchange rate and the depreciation of the ruble, the increase in product prices on Russian e-commerce platforms is also expected.

Russia

E-commerce

AliExpress