Russian Internet sales grew 40% to $600 mln in 2004

Russian retail sales increased by a 12% in 2004 to $194 bln, but internet retailers posted sales growth of 40%. With total sales of just $600 mln Internet retailers accounted for just a fraction of the total, Reuters says. Russia has over 1,500 Internet shops, according to SpyLOG. Of 400 etailers investigated last year by SpyLOG, half were the virtual office of a real shop trying to save on costs and reach more customers. Only 12% of the shops had more than 10 staff.