Google Shopping has been a great promotion tool for e-commerce sites in the US and Europe for a long time. When it comes to the Russian market though, it is not the first shopping aggregator that normally comes to a marketer’s mind. Just like with plenty of other online services, Russia has a local alternative that is more popular.
Meet Yandex.Market – one of Russia’s largest shopping aggregators.
Yandex.Market in a nutshell
Yandex.Market was created back in 2000, and since the moment of its birth has managed to grow into a massive shopping aggregator and price comparison engine. Today Yandex.Market boasts 20 million monthly users and over 10 000 participating stores.
The top categories for Yandex.Market are:
- Household appliances
- House and garden
- Fashion (learn more)
- Children (learn more)
- Cosmetics and perfumes
- Sports and recreation
These main categories are divided into 1500 subcategories, which creates a massive database of online product offers from various stores, prices, user reviews and ratings.
Apart from the obvious benefit of getting exposure in the audience of the service, sometimes Yandex inserts Yandex.Market listings in its search results.
Earlier this year Yandex.Market was relaunched with a sleek new design and several unique features, such as personalized suggestions for every user, dispute tool and escrow-like payment guarantee.
There are two pricing models available for Yandex.Market advertisers:
CPC: cost per click pricing model is available to all advertisers. The minimum CPC is 3 RUB (approximately 4 cents), however given that Yandex.Market works on auction basis, the actual CPC can be higher.
CPA: cost per acquisition model is only available to advertisers, which have been represented on Yandex.Market for at least 3 month and have a rating of at least 3 stars. Once eligible, advertiser will pay 1% commission for each transaction.
How to list a store on Yandex.Market
Pretty much any e-commerce site can apply for being listed on Yandex.Market, but be prepared to face strict guidelines and manual moderation. Yandex.Market is committed to deliver a certain standard of service to its customers, and all participating stores must live up to it.
Some of the basic requirements for being accepted are:
- Website needs to be functional at all times.
- All products sold on the website need to comply with Russian law.
- Contact phone number needs to match the region, where the website sells its products.
- All legal, contact and delivery information will be verified manually by Yandex.Market representative.
- Website needs to have a separate page for every product.
- Price and availability information needs to be up to date at any time (tested by Yandex.Market representative over the phone).
- Website needs to be able to confirm the order within one hour.
- Support needs to be able to give full information about any product listed on the site (tested by Yandex.Market representative over the phone).
- Phone support needs to be able to speak Russian.
The moderation process takes up to 2 working days. If the store fails to pass the first moderation, the owner will receive feedback from Yandex.Market explaining the reasons and listing the points that need to be fixed.
Once accepted, all that’s left is to submit the product feed. Yandex.Market accepts three different feed formats:
- YML (yandex markup language) file: YML is a special format created by Yandex for listing products on Yandex.Market.
- Comma-separated text file.
- Excel file.
The file with the product feed needs to be hosted on the merchant’s website and be available for download for the Yandex.Market bot. The file can be compressed with ZIP or GNU ZIP.
Importance of user reviews
Yandex.Market has accumulated a huge number of user reviews over the years. The reviews are used by stores to gain more trust from buyers, not only on Yandex.Market, but also on their own sites. Yandex.Market badge is very popular in Russia and can be seen on a lot of e-commerce sites.
Very recently Yandex also added store rating (similar to Google’s seller rating) as a type of extensions for Yandex.Direct ads. The rating is taken directly from Yandex.Market. According to the early studies, store rating extensions can improve click-through rate of the ads by up to 1.5%.