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'Decent Outlook' For Russian Retail In 2021, Despite COVID Challenges: Sova Capital

Published on Jan 21 2021 8:58 AM in Retail tagged: Featured Post / Russia / X5 / Magnit / Paywall / Sova Capital

'Decent Outlook' For Russian Retail In 2021, Despite COVID Challenges: Sova Capital

The Russian food retail market is in line for a 'decent outlook' in 2021, despite the challenges presented by COVID-19, according to a new report by Sova Capital.

Noting that the Russian food retail market grew by 1.7% in nominal terms in 2020, the slowest pace in modern history, Artur Galimov, senior analyst with Sova Capital said that large chains are benefitting the most from the pandemic-related 'new normal'.

'COVID-19-related tailwinds and altered consumption patterns created an extremely benevolent environment for large chains, leading to an acceleration in their consolidation of the market,' he wrote.

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