Russian e-commerce venture SberMarket's transaction volumes triple

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Sberbank became the majority shareholder in SberMarket in January after buying a stake from its joint venture with internet company VK, known as Mail.Ru Group before a rebranding last month.

SberMarket’s gross merchandise value (GMV), an e-commerce measure of transaction volumes, in July-September jumped to 14.5 billion roubles ($203.75 million). The number of orders increased by more than four times to 5.994 million.

Express delivery accounted for 24% of the total number of orders.

In the first nine months of this year, GMV reached 36.2 billion roubles, which is three times higher than in the same period a year ago.

Last month, AliExpress Russia, an e-commerce venture between Chinese online shopping giant Alibaba (NYSE:BABA) and Russian partners, reported GMV of 133.3 billion roubles for the first half of the 2021-22 financial year, up 36% year-on-year.

($1 = 71.1640 roubles)