Magnit, X5 Retail Group, and Metro to Continue Selling Products without Markup

The largest Russian retail chains — Magnit, X5 Retail Group, and Metro Cash&Carry — have extended their initiative to offer certain categories of socially important goods at zero markup until the end of this June. Earlier in April, the companies decided to eliminate markup for a number of product categories in the face of the challenging epidemiological situation in the country.

The initiative is intended to support socially vulnerable citizens and ensure high availability of fast-moving products. Each chain has established a list of essential food articles from the “first price” segment that includes at least 10 items — dry foods, fruits and vegetables, perishables — which are offered to customers without any markup — i.e., at the same price the chain pays to the manufacturers.

Magnit, X5 Retail Group, and Metro Cash&Carry invite manufacturers and other retail companies of any format to join the initiative to help maximize the impact.

Offering goods without any markup — one of the most important measures used by retailers to support low-income citizens—allows ensuring food security for the consumer in the current challenging economic situation. As of beginning of April, tens of millions of customers have already purchased the most in-demand products at zero markup, with all selling cost for these goods taken up by Magnit, X5 Retail Group, and Metro Cash&Carry.

Magnit, X5 Retail Group, and Metro to continue selling products without markup