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In this report we show how Magnit is having to balance these two challenges as part of its transformation strategy for 2023.

This in-depth guide to Russia explores the key trends in grocery retail and the growth strategies of the leading retailers in the country.

Grocery sales in the CEE are expected to grow by 3.6% between 2019 and 2024. Retailers are driving this growth by revising how they run their business. Some, like Kaufland across Europe, are evolving their stores and product range to cover more shopper missions and attract more shoppers. While others, like Russia’s Pyaterochka, are investing in digital retail solutions to drive efficiency.

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In reaction to the Coronavirus (COVID-19) pandemic, Russian retailers and the government have started implementing several measures to slow the spread of infection.

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Magnit launched a 12-month transformation programme in September 2018. A key aim of the strategy is to return its like-for-like (LFL) performance to growth, following two years of decline. It is looking to do this by developing a new customer value proposition (CVP), which puts a strong focus on the shopper, and a refined pricing and promotional structure. It reached that aim when it reported L...
The three leading Russian retailers X5, Magnit and Lenta reported above market sales growth for the first quarter of 2019. Russia’s Ministry of Economic Development lowered its forecast growth of total national retail sales for 2019 from 1.7% to 1.6%. This is significant drop from the 2.8% growth rate reported in 2018. The three retailers continue to consolidate the market as they grow sales at...
Russia’s retail market in 2018 faced stagnant household incomes and food price inflation. This led shoppers to become more economical with their spending. As a result, retailers had to compete more for their share of spend in groceries, which has led to a slowing in real sales growth rates. We look at the 2018 full year results and highlight how the leading Russian retailers managed in the fac...

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