Magnit’s transformation strategy

Competition in Russia's grocery market is intensifying, with retailers reporting little in the way of like-for-like expansion as shoppers suffer from stagnant growth in wages, while also having to operate in a highly competitive market. At the same time, retailers are having to invest as shoppers continue to demand better products and service. In this report we show how Magnit is having to balance these two challenges as part of its transformation strategy for 2023.