Russian retailers are being hit by consumers' loss of purchasing power, but Ulmart, the country's version of Amazon, expects to strengthen its position as people begin to count every kopeck. "We are optimistic about this year," said Ulmart board chairman Dmitry Kostygin. Founded in 2008 in Saint Petersburg, Ulmart adapted Amazon's model to Russia's logistics landscape -- bypassing the lumbering postal service to deliver to a network of pickup points located near its customers. Sales hit $1.3 billion (1.16 billion euros) in 2014, an increase of 30 percent over the previous year, making Ulmart the top online retailer in Russia and the country's third-largest Internet firm after search engine Yandex and Mail.ru -- a major email provider which also controls the country's top social-networking sites.
via Tech News Headlines - Yahoo News http://ift.tt/1DV0PO1
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