Russia's e-commerce sector has experienced explosive growth in recent years. Online sales surged by up to 80 percent in 2024, data from the T-Kassa online payment and clearing service showed.

MOSCOW, Nov. 13 (Xinhua) -- Across Moscow's bustling streets, bright "11.11" billboards have sprung up in shopping malls, metro stations and on major thoroughfares, promoting the "Double 11" sales of Russian online sellers.

The Double 11, one of the most popular online shopping events in China for over a decade, has now been recognized in Moscow, thousands of miles away.

Russia's major e-commerce platforms, such as Wildberries and Ozon, are offering steep discounts on electronics, fashion and home goods; and social media feeds feature numerous influencers promoting the Double 11 sales.

According to data released by Ozon, the company recorded a sharp surge in customer activity during the sales event, which peaked on the evening of Nov. 10, when users placed over 720,000 orders within one hour.

For many Russian consumers, the day has become an eagerly awaited opportunity to grab a good deal.

"My friends and I wait for this festival to treat ourselves to something we planned to buy for a long time," Anastasia, a customer shopping at a Moscow supermarket, told Xinhua, adding that the Double 11 atmosphere was impossible to miss, with discounts everywhere online and offline.

Clothing, footwear, accessories, household goods, cosmetics and perfumes have traditionally been among the best-selling categories during seasonal promotions, according to analytics.

Russia's e-commerce sector has experienced explosive growth in recent years. Online sales surged by up to 80 percent in 2024, data from the T-Kassa online payment and clearing service showed.

The scale of the e-commerce market in Russia is expected to expand by 30 percent this year to 152.5 billion U.S. dollars, said Artem Sokolov, president of the Online Retail Association, during the St. Petersburg International Economic Forum in June.

"Digital marketplaces are now transforming not only trade, but also logistics, finance and advertising, becoming an inseparable part of every economy where they operate," said Tatyana Kim, founder and CEO of Wildberries, the largest Russian online retailer.

According to a March report by consulting firm Yakov and Partners, Russia's e-commerce market may reach around 35 trillion rubles (430 billion dollars) by 2030 in an optimistic scenario, with over one-third coming from independent online retailers.

China, the world's largest online retail market, plays an important role in the rapid growth of Russia's e-commerce sector. About 80 percent of Russia's international e-commerce is conducted with China, said Russian Minister of Economic Development Maxim Reshetnikov, adding that Russian platforms now maintain branches in China and assemble orders locally.

"Russia has already witnessed the great potential of e-commerce," said China Unicom's Chief Big Data Scientist Fan Ji'an.