The research team of Internet Retailer 2014 Edition Europe 500 (IR) admitted error in the June 2014 ranking of e-retailers and so has named Ulmart the 6th largest WEB ONLY e-retailer in all of Europe.
In a letter sent to Ulmart company representatives, “[It has been] discussed with colleagues and upon further analysis we can see your point. We are updating the digital guide to classify Ulmart as web only.”
Fans and students of e-commerce alike look to the “IR” rankings as a bible that captures industry trends, highlights up-and-coming stars and in some cases decides who is worthy of investor’s interest.
The latest ranking put Ulmart at number 25 among all European retailers and strangely left the company out of the “web only” category.
“Fully respecting the experts at Internet Retailer, we are 100% online. Yes, we have an interesting hybrid approach that permits customers to access our fulfillment centers but 100% of all orders take place online, “commented Alexandra Savina the company’s Chief Marketing Officer.
Despite the insistence of co-founder Adrien Henni of East-West Digital News, a leading e-commerce research group based in Moscow, that Ulmart is not a traditional e-retailer and should not be considered in such rankings, the Ulmart communications team convinced Internet Retailer and they sided with Ulmart’s evolutionary approach.
“Permitting customers to use the internet in our fulfillment centers is not a reason to be excluded from such rankings. Turn of the Internet and there is no way to buy anything from us,” added Brian Kean, Ulmart’s Director of Communications and Investor Relations.
At in-fulfillment center (FC) terminals, customers can make purchases online but the current trend shows more and more movement toward mobile and out-of-FC purchasing-from home, work or sitting in a cafe.
Two years ago, Ulmart barely existed in the minds of the e-commerce world and yet in very quick order, the company has shot to the top of the rankings and forecasts sales this year to reach $1.5 billion. Also, it must not be forgotten that Ulmart recently celebrated only its sixth year of operations.
‘Amazon and others will follow our model,” predicted Ulmart’s chairman of the board and majority shareholder Dmitry Kostygin on Bloomberg’s Market Makers morning program in February of this year, and it all begins with the research professionals
