Platforms — The New Framework of the Economy: How Russia’s Market is Transforming

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The rapid development of digital ecosystems is altering conventional market interaction models and forming a new infrastructure for the economy as a whole. How do platforms influence economy, employment, and regulation, and in what ways can the state and business establish a balanced approach to their development? These and other questions were discussed by participants of the Interdepartmental Working Group on the Development of Digital Economy Ecosystems and Digital Platforms. The event took place on 11 November at the National Centre RUSSIA as part of the first-ever Platform Economy Day.

A platform is not merely a new business, but a new form of organising economic activity that effectively transforms the unregulated market economy, noted Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office of the Russian Federation. Through transparency and digitalisation, it becomes more efficient, which in turn contributes to improving citizens' welfare. This raises many questions related to regulation, implementation, and other aspects of platform operations, he added. 

"The purpose of establishing the Interdepartmental Working Group is to develop digital economy ecosystems and digital platforms with the participation of the industry community representatives. Our meetings address all issues concerning the functioning of digital platforms, including various business practices. The Group's main task is to facilitate as much as possible the development of digital platforms simultaneously protecting the rights of both consumers and service providers. It is crucial to find the right balance in this dynamic process," stated Maxim Oreshkin.

Digital platforms continue to significantly transform the economy, opening new opportunities for trade, services, and the employment sector. They are growing not only in volume and user numbers but also through major investments in infrastructure and new economic sectors. However, alongside this growth, their market influence is intensifying, making it essential to balance development with risk management. This was highlighted by Russia's Minister of Economic Development, Maksim Reshetnikov.

"Markets enhance economic efficiency: the share of e-commerce in retail reached as much as 15% by the end of last year. Via platforms, 6 billion goods were bought last year. Service markets, healthcare, education, taxis, and tourism are transitioning to platform models. Today, 75% of online hotel bookings are made via platforms. The ready-made food delivery services market has doubled. New markets are emerging, such as sharing services in transport and real estate," continued Maksim Reshetnikov. "Moreover, platforms are a significant source of income for 16% of the population. One in six people earns an income related to platforms in some way. People are attracted by flexible forms of employment, the opportunity to work remotely, and convenient schedules. Overall, last year, the turnover of goods and services through digital platforms reached 5.5% of GDP. What drives this growth? Platforms lower market entry barriers, eliminate unnecessary intermediaries, and reduce transaction costs."

According to the Minister, these platforms are no longer just online showcases but large-scale product distribution networks and major investors in logistics infrastructure. Last year, they accounted for 60% of investments in warehouse real estate in the country. Their occupied area exceeded 8 million square metres. He added that platforms are becoming the largest customers for other industries, such as robotics, artificial intelligence, freight transport, and more.

The platform economy remains one of the fastest-growing sectors, stated Andreyi Sharonov, Chairman of the Supervisory Board of the Association of Digital Platforms. He noted that 12 million people have tried working with platforms at least once, while over 4 million work with them regularly. The turnover of goods and services provided by platforms has reached 12 trillion roubles, compared to the country's total trade turnover of less than 60 trillion. He also spoke about the document signed at the National Centre RUSSIA.

"The Memorandum was signed by three companies — RWB, Ozon, and Avito. We consider this as a sign of the maturity of the platform economy, a marker of the role and share of platforms in the national economy and product distribution, and a foundation for balancing interests. The Memorandum includes voluntary commitments that were not previously stipulated in the law signed by the President this summer, including the early adoption of requirements that will only come into force in the autumn of next year," said Andrei Sharonov.

Several key issues currently exist regarding the operation of digital platforms, noted Denis Kravchenko, First Deputy Chairman of the State Duma Committee on Economic Policy. These include the circulation of counterfeit goods, which remains possible for items not handled by platform logistics; a growing number of abuses by customers who return used goods or order large batches to get a single item; and the marketplaces’ decision to offer discounts for payments made through their own banking services, which has caused dissatisfaction among banks. Participants agreed to continue working on all these issues.

Platform Economy Day at the National Centre RUSSIA was held on 11 November. The key topic of expert discussion was the rapidly growing potential of digital platforms in the global economy.

Throughout the day, plenary sessions were held at the venue. The discussions were attended by representatives of the Presidential Executive Office of the Russian Federation, the Government of the Russian Federation, the Federation Council and the State Duma, heads and representatives of ministries, agencies, and development institutions, leaders and representatives of Russian regions, specialists from the business community and leading business associations, as well as international experts.