Today, the e-procurement market is in the state of transformation. The fundamental trend is the digitalisation of procurement activities, which is primarily due to the global trend towards digitalisation of all economic sectors. The leaders in B2B e-commerce are China and the US, with B2B online sales totalling USD 2.78tln and USD 1.64 tln in 2022, respectively. In Russia, only 4-7% of companies have their own B2B e-commerce websites.

Our research focused on the current state and possible scenarios for the development of e-marketplaces in Russia, taking into account the main trends.

Analysis of the current status and prospects for the development of stock exchanges in Russia

By the end of 2022, the volume of commodity trading in Russia reached RUB 1.5 tln, with the oil products market accounting for 92% of the total organised trading volume and agricultural products for 5%. Other segments of the organised commodity market are less developed due to the large volume of over-the-counter trading. In order to expand the range of traded assets, the most likely scenarios are the interaction between trade exchanges and ETPs to achieve the objectives of building an independent system of price indicators in Russia, as well as the creation of a common exchange market for goods in the EAEU.

Analysing the current status and development prospects of ETPs in Russia

ETPs are mainly used for government procurement (44-FZ), procurement of partially state-owned companies (223-FZ), procurement of commercial companies, bankruptcy bidding, etc. The main trading takes place on 8 federal platforms, where bidding under 44-FZ is possible. These platforms provide an ecosystem of services for bidding of various types.

The main trend in recent years on ETPs is the increase in the number of low volume purchases (LVP) and the creation of separate services for LVP. This trend attracts SMEs, among others. 75% of suppliers start with LVPs in e-shops before entering the entire huge market for government contracts and purchases from state companies regulated by 44-FZ and 223-FZ. Moreover, the ETP market is witnessing consolidation of players to expand the services provided.

However, at the current stage, ETPs have limitations that hinder the increasing use of the platforms for e-commerce. These include the technical stability and flexibility of ETPs, complex navigation, and the breadth and quality of additional services. The development of IT competences and the provision of new services will attract new members to the ETP market.

Analysing the current status and prospects for the development of B2B marketplaces and online shops in Russia

In the commercial procurement segment, ETPs have begun to compete with developing B2B marketplaces, which present various products by category from different suppliers, thereby reducing monopolisation and making the procurement process as simple and clear as possible.

The development of industry-specific marketplaces is one of the main trends in B2B trade. Almost all major players in the metallurgical industry have opened their own online shops and B2B marketplaces. B2B marketplaces for construction equipment, agricultural products, petroleum products, security systems, etc. are operating on the market. Moreover, B2B marketplaces provide their clients with an ecosystem of services. An example of an ecosystem is the industry-specific B2B marketplace ПОЛЕ.РФ, where an agricultural business can cover all its production needs in a single-window mode: take a loan to buy fertilisers, purchase them, and then sell the grown crops directly without intermediaries.

At this stage, B2B marketplaces have a number of limitations that hinder digital transformation: low digitalisation of suppliers' business processes, limited automation of marketplaces, limited range of goods in stock/customised products. However, in the near future, B2B marketplaces will adopt the best practices of online retailing and develop digital services for business customers.

Analysing the current status and development prospects of B2C marketplaces and online shops in Russia

marketplaces and online shops in Russia At the same time, e-tailing is witnessing an acceleration in the transition to marketplaces. B2C marketplaces are increasing their market share and expanding their ecosystem of services, including the development of their own banks and fintech products.

Regarding sales to businesses, B2C marketplaces, despite providing additional services for businesses (provision of closing documents, electronic document management, the ability to reserve goods, etc.), have significant disadvantages compared to B2B marketplaces: the lack of special categories of goods purchased by industrial companies, limited financial services for buyers, and the inability to integrate the marketplace's product catalogue with the customer's IT infrastructure. These limitations can be levelled out if B2B marketplaces are split into separate divisions of digital ecosystems (e.g. Yandex and Ozon), similar to Sber - SberB2B, Amazon - Amazon Business.