What's Happening in Retail?

After attending Russian Retail Week and engaging with its participants, Anna Baskova, Marketing Director of GoodsForecast, shared her observations on the key processes and market characteristics that hold relevance for retailers.

1. Overall, the industry's position is solid, and the Q1 2023 was the quietest in the last 4 years since 2020.
2. The share of ready-to-eat has grown a lot, i.e. the trend is now retail-horeca. Retailers are looking for opportunities to organize cafes/cafeterias/bakeries in their stores, as well as ways to sell  take-away food.
3. The share of hard discounters is steadily increasing. The reason is not a decline in purchasing power, but rather conscious consumption.
4. Regional retailers are still under the oppression of federal chain leaders. On the other hand, it’s the regionalists who facilitate the preservation of small farms.