Russian e-commerce company WB's first quarter results released, with turnover exceeding 11 billion yuan

Recently, Wildberries (hereinafter referred to as WB), Russia's largest e-commerce platform, released its first quarter performance report this year.

The report shows that from January to March this year, WB's turnover increased by 79% compared with the same period last year, reaching 134.7 billion rubles (about 11.44 billion yuan). At the same time, the number of customer orders also doubled.

A WB staff member said: "Despite the high base last year, the number of orders in the first quarter of 2021 increased by 108% year-on-year to 126.5 million. " This year, WB plans to expand its business to new countries and continue to build logistics centers in Russia to enhance delivery capabilities.

At the end of February this year, WB entered the European market again and opened sites in France, Italy and Spain. So far, WB has been operating in 13 countries and regions , including Russia, Germany, Poland, Israel, Slovakia, Belarus, Kazakhstan, France, Italy, Spain, Armenia, Kyrgyzstan and Ukraine.

Since the outbreak of the epidemic last year, the number of sellers on the WB platform has been growing. At the end of last year, the number of sellers on the WB platform was 91,000. As of now, WB has 162,000 sellers. The reduction in sales commissions and the development of logistics and IT services have promoted the growth of sellers.

In fact, compared with other Russian e-commerce platforms, WB's sales commission is not low. Some Russian industry experts said that this situation may cause WB to lose some sellers. Earlier this month, WB finally lowered the commission for some products on the platform, reducing the commission for electronic products to 1%.

In addition, WB's merchandise range has increased from 3.7 million SKUs to 10 million SKUs. And with the launch of the partner program and the cooperation of logistics partners, WB has greatly increased the number of delivery points. Last year, WB's delivery points increased by about 16 times, from 7,000 to 115,000.

Under the influence of the epidemic and WB's own efforts, WB achieved outstanding results last year. WB's 2020 financial report shows that WB's turnover almost doubled last year to 437.2 billion rubles (about 37.15 billion yuan).

Russia

Wildberries