Ulmart Leads Discussions on the "New Economy" at Two Economic Forums

SAINT PETERSBURG, Russia, July 5, 2016 /CNW/ - June 16-18 at The St. Petersburg International Economic Forum (SPIEF) and then a week later in Tianjin, China (June 26-28), Ulmart, Russia's leading e-commerce platform, has officially established itself as a leading company in Russia's "new economy."

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The "new economy" or as some call it "the new normal" is one no longer able to rest on the record-high prices for oil. Given the new era of low oil prices and the unlikelihood that they will again rise to those previous levels, Ulmart has become an active promoter of what is called the "4th Industrial Revolution"--a borderless transformation of world economies characterized by the irreversible growth of digital in all aspects of production, education, consumption and communication.

Speaking at a session on the future of consumption at SPIEF, the Chairman of the Board for Ulmart, Dmitry Kostygin, expressed the need for government in Russia to expedite the development of high-speed internet throughout the regions. "Russian internet penetration is 67%. Russia also has the largest pool of internet users in Europe with a population of 140 million and the lowest level of penetration. For our business alone, sales will organically double just from an increase of 20% in internet users. That increase will add thousands of jobs for Russians as we will obviously need to hire more aggressively."

With a large stand at SPIEF at which Ulmart sponsored sessions on the transformation of the Russian economy, Ulmart continues to push its fellow business associates and government ministers to more actively implement all that is needed to drive Russia into a leadership role in the 4th Industrial Revolution.

"There are certain things we need to focus on...creating the infrastructure for high-speed internet, improve education...CEOs need to actively transform their company's approaches to business or else risk isolating Russia from the world economy," said Brian Kean, Chief International Officer for Ulmart who led discussions in Tianjin, China at the World Economic Forum's meeting of Global Growth Companies.

Ulmart believes that its future success also depends upon the readiness of the government and Russian business to transform itself digitally. "Good WiFi access in a desert won't help you help if you're thirsty and surrounded by nothing but sand," joked Kostygin. "We all need to lead our companies in this digital revolution and setting examples is best thing we can do it."


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