Russia has been a nation of power and potential all throughout history, and it continues to be so in the digital age. The landscape extends to over 17 million square kilometers, making it the largest country in the world. It is geographically located between North Asia and Europe, the Pacific and the Arctic, and spans 11 time zones. As of February 2020, the country hosts nearly 145.9 million residents, which also makes it one of the biggest markets all over the globe.
Despite experiencing a dip in its economy over the past few years, recent reports show that its rates are back on a healthier track. According to the World Bank, Russia’s GDP has risen to a rate of 2.3% from 1.6%, which is considered to be its best growth rate since 2012. In 2017, its lowest inflation rate was recorded at only 2.7%, and it is expected to remain below 4% in the future.
Russia still maintains a significant international role in today’s digital age. Although experiencing various setbacks over the years, such as the 2017 recession and its ever-changing political climate, it is still regarded as a technological hub and a major producer of skilled IT professionals. Currently, a massive development program is underway, aiming to digitalize the entire country to develop entrepreneurial energy, new technologies, and more skilled professionals.
Factoring in Russia’s tech-savvy residents and flourishing e-commerce market, the future of digital marketing in the country undoubtedly offers promising opportunities.
This article will discuss Russia’s digital marketing environment, its biggest channels, industry challenges, and opportunities, as well as the best possible ways on how to reach the Russian audience.