In Russia, business stagnation was predicted due to a possible ban on discounts on marketplaces

The ban on discounts on marketplaces will lead to a deterioration of the competitive environment, stagnation of Russian business and acceleration of inflation. This was announced on November 25 by Wildberries founder Tatiana Kim in a letter to the Central Bank, the Government of the Russian Federation and the Federal Assembly.

"What really drives banks? The desire to reduce your own costs for cashbacks and bonuses, save commission income and get rid of competitors. What will it lead to? To the stagnation of Russian business, the acceleration of inflation, and the radical deterioration of the competitive environment," Kommersant quoted Kim as saying in the letter.

According to her, more than 1 million entrepreneurs of small and medium-sized businesses are partners of digital platforms. It is noted that marketplaces are their only opportunity to scale.

At the same time, the founder of WB noted the opportunity of large banks to offer benefits to their customers when shopping on online platforms. At the same time, e-commerce participants do not restrict banks in developing their loyalty programs on marketplaces.

In addition, Russian banks have their own ecosystems, including marketplaces. In this regard, Kim is convinced that the statements of financial organizations about the impossibility of fair competition with marketplaces do not stand up to criticism.

Non-free cash register: The State Duma is asking the authorities to assess the risks of price increases due to the cancellation of discounts on marketplaces.

The deputies believe that this may lead to the unavailability of many goods for the population.

According to a survey conducted by VTsIOM, two thirds of Russians consider the initiative to ban discounts on marketplaces unfair. Most are confident that the disappearance of discounts will inevitably lead to higher prices, worsen conditions for millions of customers and negatively affect small and medium-sized businesses.

On November 20, the heads of Russian banks made a proposal to ban direct discounts and bonus programs for marketplaces. An exception is planned to be made for proprietary products of marketplaces and socially significant product categories.

In turn, Wildberries (WB) founder Tatiana Kim said on November 21 that marketplaces have always been a socially responsible business, and approval of this initiative could lead to higher inflation. Lawyer Andrey Alyoshkin noted that the initiative to ban marketplaces from using loyalty programs is illegal.

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