Former head of monomarket and current CEO of the Citrus chain Artem Shevchenko stated that the key driver of the marketplace within monobank is «purchase in parts.» Without it, the product actually loses its meaning.
Former head of monomarket and current CEO of the Citrus chain Artem Shevchenko stated that the key driver of the marketplace within monobank is «purchase in parts.» Without it, the product actually loses its meaning.
«It’s like taking away a football player’s legs — theoretically you can play, but this is a different level of play,» he explained in an interview with Forbes Ukraine.
According to Shevchenko, about 8,5% of monomarket revenue is generated precisely through installment payments. This tool was integrated into the product as a baseline scenario: at checkout, installment payments were often the default option even for inexpensive goods. «This is the main value for the customer and the main trigger for purchase,» he noted.
Shevchenko emphasizes that monomarket should not be evaluated as a separate e-commerce project. According to him, it is part of the monobank ecosystem, where the marketplace works as a tool to increase the frequency of application use, attract new customers, and strengthen financial products.
The marketplace itself may not be the main source of profit, but it creates value for the entire ecosystem, says the IT expert.
He also said that in the first year of operation, revenue exceeded UAH 1 billion, during peak periods, daily sales reached UAH 30–40 million, the assortment grew to hundreds of thousands of SKUs, and dozens of partners joined the platform.
At the same time, the service earns from commissions from sellers (from ~2.9% depending on the category) and the integration of monobank financial products. There was no fee for placing goods on the platform.
