RAEC and TIARCENTER Release Annual Report on Sharing Economy in Russia

The Russian Association of Electronic Communications (RAEC) and TIARCENTER have prepared the annual report on the state of collaborative consumtion, “Sharing Economy in Russia 2019”. According to RAEC and TIARCENTER, in 2019, the total transaction volume of sharing services in Russia amounted to about 769.5 billion rubles (about $11 bn), an increase of 50% compared to 2018.

The C2C commerce (566 bn rubles) comprised the largest slice of the sharing economy, followed by P2P service marketplaces (140 bn rubles), carsharing (20.5 bn rubles), carpooling (a.k.a. ridesharing, 17.8 bn rubles), and short-term apartment sharing (15.6 bn rubles). Those are the same five segments that constituted 2018’s top-five, although carsharing changed places with carpooling, showing a larger volume of transactions. At the same time, the sharing market in Russia accelerated – its growth rate reached 50% (compared to last year’s 30%).

Among major 2019 trends, RAEC and TIARCENTER highlighted the “ageing” user base and regional expansion (including beyond regional capitals). Users trust platforms and each other more thanks to user verification, rating systems and insurance options. Today sharing apps are integrated into large ecosystems combining B2C and P2P channels.

Download the report