On the 24th of February, Ukraine changed forever. From the displacement of millions of Ukrainian citizens to supply chain disruptions – the invasion of the country by Russia has caused global uncertainty and unease in the subsequent months.
In response to the invasion, the West imposed sanctions on the Russian economy. And, many brands pulled out of the country completely.
As the war continues, the economies of both countries could potentially contract by double digits this year. And, further afield the World Bank is predicting that the conflict could cause a global recession in the coming months.
We monitored more than 34m e-commerce transactions in Russia and Ukraine over a 120-day period. The period covered 3 months prior to the invasion and 1 month after the invasion to explore the impact on e-commerce in both countries.
Both countries experienced sharp declines in their e-commerce activities in the period after the invasion. Particularly in Ukraine, where e-commerce has almost disappeared.
We took an in-depth look at the 34.7m transactions to analyze consumer behavior and what it symbolized. We found many interesting consumer and industry trends in both countries, some to be expected, with others requiring further explanation and research.
But, we won’t spoil the report for you. You can download it for free below.