Yandex, the parent company of Auto.ru, Yandex.Realty and Yandex.Jobs, has released its Q2 financial results ending June 30, 2021. The group announced that for the first two quarters of 2021, there has been a 23% increase in revenue year-over-year for its Yandex.Market channel.
Yandex reported that the share of GMV sold by third-party sellers on Yandex.Market spiked to 70% in the second quarter of 2021, compared to 56%, year-over-year.
The jump in numbers is due to a number of reasons that Yandex listed including audience growth (that of which increased 78% year-over-year, reaching 7.1 million active buyers, recorded at the end of the Q2 period, 2021.), significant expansion in assortment and logistics infrastructure, swift transition of merchants from CPC to CPA (powered by dropship by seller “DBS” model), as well as support from the integration with our Yandex Plus program.
Yandex said in a statement on its financial results, that the Russian economy, like many around the world, is showing resilience and gradual recovery in Q2 2021. The statement said:
“The businesses that saw an acceleration of demand during the pandemic continued to demonstrate solid growth trends on the back of fewer COVID-19 restrictions, including our FoodTech businesses, Yandex.Market marketplace and Media Services. We believe this is related to the change in consumer behavior and habits, and low penetration of these services in Russia.”