Russian retailers are launching discounters amid falling incomes - FT
Russian grocery retailers are trying to adapt to rising food prices and declining incomes of Russians, moving to the format of "hard discounters", writes the Financial Times. The real incomes of Russians have decreased by 11% since 2013, and about 20 million people live below the poverty line, the newspaper notes. This created a demand for the "discount business", and retailers began to develop this direction one by one. As the main example, FT cites Fix Price.