Retail chain Magnit may launch a new discount chain on the backdrop of the rising consumer savings trend. About Writer Kommersant, citing the source.
Magnit can create a new chain in the economy segment by separating pricing and product variety from its main format. According to one of Kommersant’s interlocutors, the development of the new network concept began in 2022, it can be approved in the first quarter of this year, after which it is planned to open the first stores.
The article states that Magnit has been dealing with the My Price discount network, which offers cheap goods and private brands (PLs) since 2020. However, analysts think the My Price network is not a hard discounter, as it is only one of Magnit’s formats. At the same time, the new network can begin to develop actively in regions where the opportunity to open new stores will continue.
Market experts added that there is the potential to open new discount stores. In addition, the largest retailers are not represented in all regions, and regional networks may decrease during the crisis. All this makes it possible to increase the presence of major market players.
In early August, the Russian company X5 Group, which manages the Pyaterochka, Perekrestok, Karusel market chains and the Chizhik discount store, acceptance On the acquisition of controlling shares of two groups from Eastern Siberia at once – the Krasny Yar grocery chain and the Slata supermarket chain.