There is a new rising star on Europe’s retail horizon. Russian X5 Retail Group, pushing its proximity discount banner Pyaterochka beyond the Urals, will claim its place among the long-standing top 10 grocers by 2022.
LZ Retailytics provides evidence that hypermarkets represent the second largest modern grocery retail channel in Europe. But performances vary significantly between geographies, retailers and store concepts.
Central and Eastern European grocery retailers are growing twice as fast as their European peers. Where previously the discounters were chipping away at the large-area multinationals, now the local heroes are rising to meet evolving consumer needs.
Russian Lenta wants to strengthen its market position by expanding its food private labels. The retailer will focus on the standard and premium private label segments to increase customer loyalty. As a result, the company targets a revenue share of 18-20%, up from currently 12-14%.
Large-format operator Lenta, currently Russia's fifth largest grocery retailer, has confirmed that it plans to become a top 3 retailer over the next few years. In order to reach this position, the St Petersburg based retailer needs to pass current number 3 and 4, Auchan and Dixy Group, respectively.
This week, LZ Retailytics takes you to Russia. Each day, we will be exploring the different banners which shape the Russian retail landscape. Today we look into the dynamics of the market. By 2021, the six largest Russian grocery retailers will near half of organised trade.
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