A massive country with a huge population that is still fairly untapped in terms of online retail sales is Russia.
Even though they have the largest number of people online out of any other European country, they only have about $9 billion in online retail sales annually, but this figure is expected to double in the next four years. Within 10 years, they could easily be over $40 billion and among the leading online retail sales countries in all of Europe.
One of the major things holding back Russians from buying online is a general lack of credit cards from an underdeveloped financial sector. Only about 20% of homes have one, so this makes paying for purchases online extremely difficult, if not impossible.
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