In 2014, Ukrainians spent $2 billion in the national online space. Despite the lack of growth in e-commerce volumes (compared with 2013), GfK experts forecast that over the next five years online sales in Ukraine will grow by 400% and reach $10 billion a year. This is driven by the active shift to electronic payments and by large traditional retail chains going online.
This year, the audience of online stores did not shrink. Moreover, the average bill grew by 15%, and the average purchase amount in the household appliances and electronics segment rose by 30% in hryvnia terms compared with 2013. However, in most cases this is due to the devaluation of the national currency rather than an increase in citizens' purchasing power. As a result, stores' revenues in dollar terms fell by 20%.
Nevertheless, the sharp depreciation of the hryvnia has significantly stimulated sales of household appliances, whose prices change daily. Many buyers will invest in new gadget models in order to reduce the risk of their savings losing value.