Retail

Russia Lockdowns 'Unlikely To See Return To Panic Buying', Says Magnit CEO

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The return of COVID-related lockdown measures in Russia is unlikely to lead to a return to panic buying, the chief executive of Magnit, Jan Dunning, has told ESM, although it is likely to usher in a "change in consumption habits".

Last week, Russia announced a series of lockdown measures after COVID cases and deaths hit all-time highs. In Moscow, all non-essential services have been closed, with only shops selling food, medicine and other essentials permitted to remain open until 7 November.

Commenting on how the measures will affect the Magnit, Dunning said that the advance warning given by the government about the re-introduction of lockdowns enabled the business to prepare.

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