D.I.Y. competition battle lines are moving in Russia
Whilst digitalisation of the D.I.Y. sector is a major challenge, particularly in the B-to-B sector, the battle lines are moving in the less competitive but potentially profitable markets of Central Europe and the Middle East. Kommersant revealed that in Russia, the n°2 supermarket operator Magnit (21,500 stores, turnover of €17 billion in 2020, up by 13.5%) wants to enter this market offering €18.6 billion in annual sales. In March 2021, it registered the “Magnit Master” as an official brand. The group is continuing diversification, following the success of other specialised retail formats: Magnit Apteka for drugstores, Magnit Kosmetik for beauty stores and Magnit Evening selling alcohol.