FAS announced that retail chains in Russia have cut their margins on core products from 22% to 7%.

Retail chains reduced price increases for socially important products three times (from 22% to 7%) in August 2021, after controlling retail prices by the Federal Antimonopoly Service (FAS). Interfax writes about it, citing a message from the head of FAS, Maxim Shaskolsky.

In mid-August, the FAS began anti-cartel checks of the largest retail chains, as prices could rise. Controls were carried out in Pyaterochka, Perekrestok, Karusel, Lenta and Magnit networks.

“Measures aimed at lowering the prices of a number of socially important goods continue to work. “The margins for these positions have fallen from 22% to 7%, more than three times, and we are constantly monitoring.”

It was reported that the day before, the retail chain Pyaterochka and the Mir payment system launched a joint promotion for all national card users. Trade network customers using the Mir card will receive a 10% cashback of the purchase price in network stores.

Last week, X5 Group’s press service reportedanalyzes the probability of closing or selling existing Carousel stores.

Source: Gazeta


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