The marketplace market in 2025: steady growth and new challenges
The sales of Wildberries, Ozon, and Yandex Market for the first three quarters of 2025 amounted to 6 trillion rubles. Growth remains at 36.4%, but this is almost twice as slow as a year earlier. The market is clearly transitioning to a new phase—a mature and more moderate one.
The leaders are growing at different rates. Wildberries leads in volume (3.1 trillion rubles) but shows the most modest growth at 33.6%. Ozon is growing the fastest at 44.3%, reaching 2.4 trillion rubles. Yandex Market currently lags behind (404.5 billion rubles, +17.6%). The companies themselves report higher revenue figures, as they account for all activity within their ecosystems, including services and fintech. This underscores their evolution from simple marketplaces to comprehensive platforms.
The slowdown in growth is logical. The market is now comparing against the high base of the post-COVID boom, the share of online trade has reached 18.3%, and demand has shifted from expensive categories toward everyday goods. Additional pressure comes from rising logistics costs and increasing government regulation, including restrictions on discounts.
Nevertheless, online retail is still growing significantly faster than offline: the largest offline retail chains added only about 14%. The future of the market is now tied not to extensive expansion but to deepening monetization, fighting for logistics efficiency, and retaining sellers. Competition is shifting toward creating sustainable ecosystems, and the role of the regulator will intensify as the share of online trade approaches 20% of total retail.