Russian Retailers Limit Margins On ‘Socially-Important Products'
Russian retailers including Magnit, O’Key and Auchan Russia have said that they are voluntarily limiting margins on ‘socially-important’ products, such as bakery, dairy, sugar and some vegetables, at 5%.
Domestic news agency RIA Novosti said that the measure is being implemented to ensure that essential products are still affordable for everyday consumers amid rampant inflation and a declining rouble – factors that are likely to be exacerbated by the conflict in Ukraine.
Magnit is limiting margins on 304 commodity items across 27 categories, it said, including beets, carrots, cabbage, potatoes, onions, milk, cottage cheese, kefir, butter, sugar and bread.
Elsewhere, X5 Retail Group last month announced it was limiting margins on 20 essential product categories, as well as compiling a list of specific SKUs on which margins would be adjusted on a monthly basis.
ESM
Related news
Mandatory campaigns are not only in Hungary
Serbia continues the fight against inflation and continues to expand…
Read more >MRSZ Media cake: high inflation took away the growth of the Hungarian advertising market
The figures of the Hungarian Advertising Association (MRSZ) assessing the…
Read more >GKI expects a 3.5% drop in purchased consumption in 2024
In its late December publication, GKI essentially confirmed its September…
Read more >Related news
Seven trends shaping in-store marketing and retail design in 2024
Smart brands know that in-store marketing and store design can…
Read more >2024 is a year of challenges for the tobacco industry and retail
Annual tobacco retail sales are expected to have increased in…
Read more >The latest issue of Trade magazine is out now!
The digital version is available with more content once again,…
Read more >