Wildberries turnover in the first half of the year amounted to 1.22 trillion rubles
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Turnover from sales of goods and services (GMV) of Wildberries in the first half of 2023 increased by 94% to 1.22 trillion rubles, the online retailer reports. In the second quarter of 2023, the company’s turnover reached 644.17 billion rubles. (+89% year on year).
The total number of orders in the first half of 2023 exceeded 1.3 billion (+119% year-on-year). The largest sales volumes on the site were demonstrated by the segments of fashion goods (clothing, shoes and accessories), cosmetics and perfumes, home improvement products and interior items, smartphones and accessories, as well as food. The fastest growing categories are auto parts (+596%), gaming consoles and games (+244%), construction tools (+171%), gardening products (+158%) and sports equipment (+144%).
At the same time, the average bill continues to decline. It was 1080 rubles. in 2022. But, if you do not take into account the revenue from services to sellers and buyers, then in the first half of the year the average bill was already only about 800 rubles, points out Boris Ovchinnikov, a partner at Cross Insights.
Wildberries will most likely not be able to grow further at this rate – already in the second quarter the growth rate dropped to 89%, while in 2022 and the first quarter of 2023 the growth was about 100%, notes Ovchinnikov. The slowdown in the second quarter occurred even though the comparison is with the relatively weak second quarter of 2022, when buyers and sellers were still in a state of shock.
The decline in growth rates will continue, but the question is how sharp this decline will be. So far it is much smoother than predicted six months ago, so in general, Wildberries’ results for the first half of the year are good news for both the site and the e-commerce market as a whole, says Ovchinnikov.
The Wildberries online platform is owned by Tatyana Bakalchuk (for the second year in a row, the richest woman in Russia according to Forbes). The marketplace sells in Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, and Azerbaijan. Wildberries turnover in 2022 increased by 98% to RUB 1.67 trillion.
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