Source: Taiwantrade | Updated: 12 May 2015
Yandex, a NASDAQ-listed company that operates the largest search engine in Russia, will exhibit at “eCommerce Expo Asia” from Oct.6th to 9th, 2015. Yandex joins the show in hopes to build brand awareness and present its latest service and technology; moreover, Yandex hopes to guide Taiwanese companies to enter Russian market.
Yandex operates the largest search engine in Russia with about 60% market share and over 60 million visitors per month. Its prominent presences in Belarus, Kazakhstan, Turkey, and Ukraine also make it the 4th largest global search engine. Yandex will exhibit its latest customized services including keyword advertising “Yandex.Direct,” price comparison platform “Yandex.Market,” and website analysis “Yandex.Metrica.”
David Tsai, the GCA Business Develop Manager of Yandex, states that the biggest barriers to entry for Taiwanese companies into Russian market are the language issue and unfamiliarity with the market. However, with high product quality and cost advantage, he suggests Taiwanese companies to enter the middle- to high-end markets as Russia faces high currency fluctuation and high economic inequality.
According to a research by eMarketer, retail E-Commerce sales in Russia reached US$17.47 billion in 2014 and are expected to reach US$30.91 billion by 2018. Russia’s E-Commerce sector represented a mere 2% of the country’s total retail market in 2013, but Morgan Stanley forecasts that it will grow to 4.5% in 2015. Russia has been facing an economic downturn, since Russian Ruble dropped almost 50% in value in 2014 and became the worst performing currency in the world. As Ruble remains weak and oil prices plummet, commodity prices begin to rise. Thus, shopping online and finding goods from various sources are becoming new trends. Now is a good time for Taiwanese companies to enter Russian market to promote their brands and gain market share.
Special Offers for Space Application before May 31st
The first "eCommerce Expo Asia," organized by TAITRA and co-organized by TIEA, will be held at TWTC Nangang Exhibition Hall from Oct. 6th to 9th in Taiwan. The featured one-on-one procurement meetings and Asia eCommerce Forum expect to attract more than 15,000 international and domestic visitors to witness Taiwan's strength in E-Commerce. Ad space on official handout such as Show Guide and Official Directory will be offered to those who apply before May 31st. Do not miss out on this fantastic offer to increase your brand exposure and improve your exhibiting effectiveness.
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