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Yandex.Market partners with

Yandex.Market will sell’s goods in Russia through its e-commerce platform

Yandex.Market partners with Source:

Russian online marketplace Yandex.Market and major Chinese online retailer have closed a strategic partnership deal, Ecommerce News reports. Since this month, Yandex.Market will sell’s goods in Russia through its e-commerce platform.

Yandex.Market is an e-commerce venture between Russian internet company Yandex and Sberbank, the biggest bank in Russia. It’s an online platform used by over 17 million people every month. Yandex.Market is a comparison shopping engine, an online marketplace and a cross-border e-commerce platform in one.

The deal with Chinese e-commerce giant should strengthen Yandex. Market’s cross-border e-commerce exposure. According to IntelliNews, another major Chinese company, AliExpress, is likely to become a joint venture between Alibaba, MegaFon, and Russian Direct Investment Fund in the near future. This joint venture, AliExpress Russia, will be a major e-commerce conglomeration that will compete with the new joint venture from Yandex and Sberbank.

China is a very important partner to Russia, also when it comes to e-commerce. Currently, China accounts for about 90% of total cross-border shipments to Russia. It also accounts for about half of that country’s cross-border e-commerce turnover. Last year, Russia’s online imports increased by 29% to 4.75 billion euros.

SEE ALSO: How to create your own e-commerce store for free

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