How COVID-19 affects online businesses in Russia: a Yandex.Checkout study

Last week, the demand has grown not only for groceries and the entertainment content, but insurance services as well. Since the beginning of the month, the websites of insurance companies have registered an increase in the turnover of payments averaging at about 23% per week. Yandex.Checkout studied the turnover between March 1 and 22, 2020. As of now, Yandex.Checkout serves 120K websites across the globe.

Food

During the week of March 16-22, when some of the Russians started working and studying remotely, the turnover of online payments on websites and in apps of grocery stores has grown by 21% in comparison with the preceding week. The average transaction has increased by 10%, up to $38 (2,437 rubles). Restaurants and cafes saw this indicator decrease by 8% (to $22 or 1,440 rubles), which can be explained by the growth of demand for pre-cooked meals and an increase of low-priced online ordering services.

Entertainment

The turnover for online platforms selling concert, movie, theatre, and museum tickets has significantly decreased. During the week of March 16-22, the turnover dropped by 44% in comparison with the preceding week, and the average check has dropped by 33% to $15 (971 rubles).

Yet gaming platforms demonstrated a 9% growth in the number of transactions, with platforms providing entertainment content increasing by 8%. However, the average transaction remained at the same level: $5 (353 rubles) and $23 (1,483 rubles), respectively.

Health

Health-related services are, surely, in high demand these days. The number of transactions in medical offices and clinics has increased by 10%, but the turnover has increased by mere 5%, meaning people turn to doctors more frequently, but for cheaper practices.

Turnover at platforms selling health-related products, vitamins, and supplements has increased by a quarter. The average transaction has increased by 16%, standing at $65 (4,081 rubles).

Between March 1st and 22nd, the turnover on the websites of insurance companies has been increasing by a quarter per week. The number of transactions was growing at the rate of about 29% per week.

“These new circumstances have provided for turnover growth in a number of other categories besides the most in-demand goods and services such as food and entertainment. For example, last week, the turnover of construction materials and appliances has grown by 12%, while the number of orders has grown by 9%. Baby and children products saw an even bigger increase: 20% and 18%, respectively”, said Anastasia Fatkulina, analyst at Yandex.Checkout.

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Author: Eleanor Hazelton

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