SberMarket, a Russian e-commerce startup, has seen its transaction volumes treble.

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Sberbank’s e-commerce arm said on Friday that transaction volumes tripled in the third quarter, aided by an expanded range of services, including quick delivery.

Sberbank became the largest shareholder in SberMarket in January after purchasing a stake from its joint venture with internet company VK, known as Mail.Ru Group before renaming last month.

SberMarket’s gross merchandise value (GMV), an e-commerce indicator of transaction volumes, increased to 14.5 billion roubles ($203.75 million) in July-September.

The number of orders climbed by more than fourfold to 5.994 million. Express delivery accounted for 24% of total orders. GMV reached 36.2 billion roubles in the first nine months of this year, which is three times more than in the same period last year.

AliExpress Russia, an e-commerce collaboration between Chinese online shopping giant Alibaba (NYSE: BABA) and Russian partners, announced GMV of 133.3 billion roubles for the first half of the 2021-22 fiscal year last month, up 36% year on year.

Story by : Norvisi Mawunyegah