The revenue of the ten largest food retailers, including X5 (Pyaterochka, Perekrestok, Chizhik) and Magnit, increased by almost 25% year-on-year in the first quarter of 2024 and amounted to 2.5 trillion rubles. Vedomosti writes about this based on the Infoline agency report “Food retail and the Russian consumer market.”
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During the three months of 2024, the figure of the company X5 Group increased by 27% to 878 billion rubles, Magnit – by 16% to 677 billion rubles, Mercury Retail Holding – by 20% to 301 billion rubles , Slow – by 62% to 202 billion rubles, “Traffic Light” – by 5% to 100 billion rubles.
In Vkusville the figure increased by 35% to 79 billion rubles, in Auchan by 3% to 67 billion rubles, in Samokat by 93.5% to 63 billion rubles, Metro by 13% to 54 billion rubles, “OK” – 7% 52 billion rubles.
One of the reasons for the growth is the reorientation of consumers from local to federal networks. According to Stanislav Kaufman, owner of the Kaufman brand agency, consumers prefer to shop in supermarkets due to the wide variety and more affordable prices.
Additionally, when a large chain outlet opens near a local store, the latter finds it difficult to compete and often closes, he noted.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
