M.Video to double online sales

2009-10-06



The consumer electronics retailer, M.Video, expects to double its online sales in 2009. In the first half of the year, the company had already increased online sales by 80% year on year while like-for-like sales in traditional stores fell by 5.9%. The company cites the economic crisis as a key factor behind the growth of online sales; online stores offer range of products at discount prices as well as novelties not available at conventional M.Video stores yet.
According to Euromonitor forecasts, online sales in Russia in 2009 will grow from RUB 100bn ($3.3bn) in 2008 to RUB 114bn ($3.8bn) and could reach RUB 129bn ($4.3bn) in 2010.
M.Video operates 169 stores in Russia occupying a total combined area of 430,000 m².