E-commerce in Russia is developing by leaps and bounds

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Flowwow is an online platform for sellers and buyers, which the owners position as a gift marketplace. The platform began operating as a flower sales service in Yekaterinburg in 2014, after which it expanded its operations throughout Russia, and recently began to enter foreign markets.

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In the first six months of 2023, the total number of purchases in Russian online stores increased by 20% compared to the previous half of the year. Payment turnover increased by 17%, and the number of online buyers increased by 6%. The volume of online sales could reach 7.4 trillion rubles by the end of 2023.

"We started entering new armenia whatsapp resource markets in 2022. These are, for example, the UAE and Brazil. The plans include developing a presence in Armenia, Kazakhstan, and Georgia," a representative of the Flowwow press service told a ComNews correspondent.

In 2023, the company opened a subsidiary in Belarus. Flowwow specialists localized the products to comply with the country's legislation and for the convenience of sellers and customers. In particular, they launched the platform on a separate domain, connected a local SMS operator, added additional information to the product card - the cost per 1 kg / l, the manufacturer and country of manufacture, and in the personal account - consent to the processing of personal data. The specialists also updated the user interface - placed a block with information about the company and logos of payment systems on the main page.

"The popularity of marketplaces is growing every year, as are user requests for convenient and high-quality service. We value our customers around the world and are gradually expanding our presence in different countries. In 2023, we are launching Flowwow in Belarus. It is important for us that residents of the republic have the opportunity not only to please those who are far away with gifts, but also to order goods within the country. And local craftsmen will be able to use the platform to increase sales," said Flowwow co-founder and CEO Vyacheslav Bogdan.

The company's representatives expect high demand and good revenue in the new market. "We have budgeted approximately $1 million for the Republic of Belarus until the end of 2025. Given the size of the market, we expect to reach a turnover of $2 million to $4 million per year," the Flowwow press service confirmed.

FG Finam analyst Leonid Delitsyn predicted the marketplace's success in the new market and explained what it depends on: "The success of innovative projects like Flowwow mainly depends on the patience and depth of the company's investors' wallets. No one knows in advance how many years it will take for the brand to be remembered, for the company to start paying off, etc. For example, the average unicorn that went public in 2020-2021 was 8-10 years old. Only those whose investors were large and experienced enough to continue attracting millions, tens of millions and hundreds of millions of dollars all these years have gained a foothold in the market. And the rest had to leave, even if their services were the same. Entering the Belarusian market is attractive for any marketplace, since the country has a developed IT sector, and consumers are willing to use online services and have the means to make purchases. At the same time, of course, the market is limited, because 9.5 million people live in the country."

Artem Shakhurin, an expert at the investment company IVA Partners, is confident that the company will be able to easily gain a foothold in Belarus: "The Belarusian marketplace market is saturated and highly competitive. But in the categories in which Flowwow operates, the supply is not very large. Therefore, the company has every chance of successfully gaining a foothold there. There should not be any significant difficulties, given the high level of economic integration of the countries and the absence of a language barrier. The Belarusian market is not very large, so a significant increase in revenue should not be expected, but the costs of developing this market should also be small."