Wildberries founder Tatiana Kim accused banks of attacking marketplaces

The demands of large banks to limit the ability of marketplaces to subsidize discounts for customers are based on their desire to eliminate competitors. This was stated on November 25 by Wildberries (WB) founder Tatiana Kim in a letter to the Central Bank (CB), the government of the Russian Federation and the Federal Assembly.

According to Kim, the main complaint of banks is their demand to ban loyalty programs for consumers when paying for marketplaces by banks under the pretext of "equal access to the audience."

"Where are the guarantees that these banks will give discounts to customers in the same way, having achieved a ban on marketplaces? Banks already have the opportunity to benefit from their cards when paying on marketplaces, but only a few do this," Kommersant quotes the text of the letter.

Kim added that all Russian banks have the opportunity to provide cashback to customers if their customers buy something on digital platforms. In addition, she stressed that the point-by-point configuration of loyalty programs and the establishment of increased cashback allows us to create an alternative offer for the consumer that is economically equivalent and superior to the offer of the platforms.

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.

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.

Kim, in turn, 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.

In addition, according to a survey by the All-Russian Center for the Study of Public Opinion (VTsIOM), two-thirds of Russians consider the initiative to ban discounts on marketplaces unfair. Most believe 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.

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