Magnit news

Despite being the fourth largest convenience retailer in the world, Magnit is not very well-known to businesses outside of Russia. We believe that much can be learned from the retailer as it continues to rapidly expand its store network, embed technology and develop quick commerce capabilities. Magnit posts strong top-line annual results Total net sales up 19.7% YoY to RUB1,856.1bn (US$2...

We highlight five trends that will shape the convenience channel this year and beyond. RA subscribers can access the full report here . 1) Return of regional divergence COVID-19 removed a lot of the nuances between convenience stores in different markets and regions globally. Many retailers incorporated a wider selection of pantry and essential items. While some categories w...

Magnit has reached an agreement with the Dixy Group to acquire its Dixy and Megamarket stores. The network amounts to 2,612 convenience stores and 39 supermarkets, which are supported by five distribution centers. On the acquisition’s completion, it is forecast to boost Magnit’s 2021 sales of RUB1,780 bn (US$24.1 bn) by up to RUB300 bn (US$4.7 bn), a 17% increase. Magnit closes the gap on X5… ...

The convenience channel remains a great opportunity for growth. We have published a series of new reports for our IGD Retail Analysis subscribers: The convenience channel’s global outlook Global growth opportunities Multiformat retailers trading convenience stores Below are some of the key highlights to help you plan for the future... Use IGD’s view to drive change...

Leading discounters in Europe are developing their format and offer as they look to attract shoppers from other channels. This is seeing them evolve to be more like supermarkets, leading them to adjust their ranges, locations and adding value to compete beyond a solely price-focused strategy. However, in Russia, the discount format is taking a different trajectory. While some are evolving towa...

Magnit is in the middle of a business transformation programme. It is implementing six strategies to turn around its business and as it looks to support its dynamic growth strategy, and compete with other leading retailers in Russia. Since 2018 the retailer has reported an improving sales performance with a sales CAGR of 11.4% between 2018 and 2020, when compared to a 6.7% rate for the p...

Russia’s second largest grocery retailer, Magnit, has been investing strongly in the development of its physical formats as it looks to attract more shoppers. It is now investing online, a channel it has been reluctant to enter, with it only launching online in 2020. However, as it looks to drive growth Magnit is investing in several formats and online services to help it meet a wider range of sh...

Amongst all modern retail channels, the impact of COVID-19 from a global perspective, has varied the most in convenience. The channel, however, continues to offer a massive opportunity for retailers and suppliers globally, benefiting from longer term consumption trends such as smaller households and more consumers shopping locally. With this in mind, we have identified five themes that we expect ...

In 2020 X5 launched several new online solutions and expanded the range of services it offered. This included an online marketplace, Perekrestok Vprok, and an express delivery service, Okolo. The developments are part of its strategy to grow its share of Russia’s shopper spend on food and groceries. They are also aimed at helping it take a leading position in the country’s growing online groce...

In reaction to the Coronavirus (COVID-19) pandemic, Russian retailers and the government have started implementing several measures to slow the spread of infection. All non-essential stores in Moscow will temporarily close Moscow’s mayor announced measures to restrict the movement of people in the city by closing non-food stores, cafes and shopping malls for one week. The closures will begi...