Trade is moving closer to home – Newspaper Kommersant No. 168 (7369) of 09/13/2022
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Against the backdrop of the crisis, the largest sellers of food and consumer goods (FCMG) have reduced the pace of expansion of retail space. During the first half of the year, their assets grew by more than 1 million square meters. m, which is 13.5% less than a year earlier. In the second half of the year, experts expect a recovery in the pace of openings, primarily due to discounters and convenience stores.
According to the results of January-June, the sales area of the 200 largest chains of food and consumer goods (FCMG) increased by more than 1 million square meters. m, calculated in Infoline. Year on year, the growth rate of new space decreased by 13.5%. The contribution to the opening of stores of the ten largest players also decreased. They accounted for 69.5% of the growth against 72.3% a year earlier. According to Infoline’s estimates, the share of discounters in the structure of new openings increased from 60.1% to 60.9% over the year, convenience stores — from 11.5% to 11.8%. The share of supermarkets decreased from 10.5% to 10.1%, hypermarkets – 17.9% to 17.1%.
Mikhail Burmistrov, CEO of Infoline-Analytics, notes that after the outbreak of hostilities in Ukraine and the wave of sanctions, all the largest retail chains decided to reduce investment in new openings and renovations of stores in the face of uncertainty and a sharp increase in the cost of retail equipment. According to him, now the retail market is once again moving into a growth phase, and in the second half of the year we can expect a more favorable situation with the opening of new outlets.
Magnit became the leader in terms of growth in retail space in the first half of the year, expanding its asset portfolio by 271.3 thousand sq. m. m. A year earlier, Torgservice Group of Companies (Svetofor and Mayak chains), which occupied the first place in terms of dynamics, almost tripled the increase in retail space, to 164 thousand square meters. m, dropping to third place. The area of X5 Group stores (Pyaterochka, Perekrestok, Karusel, Chizhik) increased by 229.7 thousand square meters. m. The portfolio of Mercury Retail Group (Red & White, Bristol) expanded by 143 thousand sq. m. m, and the network “Dobrotsen” – 128 thousand square meters. m.
According to Mikhail Burmistrov, the dynamics of Magnit is also associated with the effect of local M&A transactions implemented at the end of 2021. Thus, Magnit agreed on a long-term lease of 56 stores under the Edelweiss brand in Kazan, as well as 58 Radezh outlets in the Volgograd and Rostov regions. At the same time, Mr. Burmistrov notes, Torgservice Group had problems with supplies, which led to a shortage in some positions, a decrease in the share of promotional sales, and as a result, the closure of more than 100 facilities as part of the optimization. But, the expert adds, today we can talk about the restoration of the activity of the Svetofor and Mayak networks. In Torgservis, Kommersant did not answer.
In Magnit they say that they are focusing primarily on the development of their main format – convenience stores. In the first half of the year, the company opened about 560 such facilities and will launch several hundred more before the end of the year. In addition, the company representative added, the network is actively investing in the development of My Price discount stores, which already have about 400 points, and by the end of the year the number may increase to 500-600 objects throughout Russia.
X5 Group promises to continue opening Pyaterochka neighborhood stores and Chizhik hard discounters, whose development was decided to be accelerated. This year, the company intends to open more than 400 Chizhik stores compared to the previously planned 300 outlets, which will expand this network to 500 facilities in 11 regions, a spokesman for X5 Group said. Lenta says it will continue to open convenience stores and also intends to improve the operating model of hypermarkets and supermarkets. O’Key Group of Companies is also increasing its activity in opening Da! discounters.
JosDeVries The Retail Company consultant Irina Bolotova says convenience stores and discounters are better suited to consumers’ growing demand for saving money and time when shopping for essentials. In her opinion, in the near future, large networks will focus on updating outdated, but traffic-generating points. And regional discounter operators may look for opportunities to open in remote cities with low levels of competition, the expert adds. One Story partner Olga Sumishevskaya adds that the major players’ focus on the active development of cheap goods stores may partially lead to a redistribution of traffic from their own convenience stores in favor of their discounters.
Mikhail Burmistrov adds that there are almost no new openings of hypermarkets and we can talk about the transformation of the format with the optimization of space. According to him, some operators are now transforming part of the space in their hypermarkets into a dark store. Supermarket chains, in the face of declining incomes of the population, also generally adhere to conservative development plans, the expert clarifies, and, rather, we are talking about rotation within the format – opening stores of the same chain in place of competitors’ outlets.
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