Variety stores saw a strong recovery in 2021 as Russia lifted its COVID-19 restrictions and foot traffic picked up. Category leaders like Fix Price remained popular due to their convenient locations.
Russia’s economy was under pressure throughout the review period, with the disposable incomes of many individuals and families taking a further hit following the start of the COVID-19 pandemic. The measures taken to control infection rates led to rising unemployment and wage cuts, with many businesses being forced to close.
Best Price OOO remained the dominant player in variety stores, with it extending its lead in 2021 both in terms of value share and in terms of the number of sites/outlets. Best Price operates the Fix Price chain which provides goods at fixed prices of between RUB50.
The variety stores channel is expected to continuing recording healthy value growth over the forecast period, building on the strong performance seen in 2021. The severe impact of the COVID-19 pandemic on household budgets will leave many Russians extremely price conscious for some time to come, benefiting sales through variety stores with their wide ranges of low-priced goods.
E-commerce continued to see dynamic growth in 2021 with consumers having increasingly turned to online ordering as well as click and collect options since the start of the COVID-19 pandemic. Over the forecast period e-commerce is projected to continue expanding and attracting more consumers as it becomes more and more convenient to buy online.
With incomes stretched, variety stores is likely to become an increasingly attractive concept to many Russians, which in turn may make it an attractive proposition for new investors over the course of the forecast period. These are likely to be local or regional players looking for new opportunities in a post-COVID-19 Russia.
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Understand the latest market trends and future growth opportunities for the Variety Stores industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Variety stores are chained or independent retail outlets with a primary focus on selling a range of merchandise across several categories. Variety stores are chained or independent retail outlets with a primary focus on selling a range of merchandise across several categories, although they may also sell grocery items. Includes fixed-price stores (e.g. dollar stores) and catalogue showrooms. Example brands include Dollar General, Woolworth (Germany), and Miniso.
See All of Our DefinitionsThis report originates from Passport, our Variety Stores research and analysis database.
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