Regulation of Marketplaces in Russia – Open a company in Russia

The pandemic has given a significant impetus to the development of online trading. According to M.A.Research, last year in Russia this market direction in the retail segment grew the fastest, and the turnover of sales on the Internet increased by more than 30 percent.

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How are Marketplaces regulated

Laws in Russia do not always keep up with the development of modern technologies. Today, there is no such term as “marketplace” in Russian legislation, while trading platforms on the Internet qualify as aggregators that provide services and sell goods.

Moreover, there are differences between the concepts of marketplace and online store.

The store on the Internet is just an intermediary between the producers of goods and the end customer, while the marketplace sells only goods of its own production.

Since last year, online trading has become more regulated by law, the seller was obliged to provide the buyer with full information about the product, to clarify the essential terms of the contract. Moreover, the marketplace now independently responds to customer complaints without redirecting them to the manufacturer as it was before. The marketplace is responsible for false information about the product and if the transaction turned out to be unprofitable for the buyer, the marketplace would compensate for the damage.

It is obvious that online trading is becoming more and more popular, and the Russian market looks quite attractive to foreign manufacturers due to the volume of the market and the popularity of online shopping among people.