Russia is expected to become Europe’s biggest grocery market by 2020, thanks to an increase in personal incomes.
The Russian grocery sector is the currently fifth largest in Europe, behind Germany, France, Britain and Italy, but a rise in disposable income is expected to propel it into first position.
IGD, the grocery think-tank, has estimated it will be worth £260 billion within the next 15 years, an increase of 180 per ent from its current standing.
In 2004, grocery shopping accounted for 87 per cent of the retail market, but only a quarter of this was done in modern stores with many people opting to shop at local markets and smaller stores.
The recent influx of supermarkets owned by major chains looks set to buck this trend, with German retailer Metro opening its first supermarket in Moscow two weeks ago.
Aldi and Lidl are expected to follow suit in the next few years and Wal-Mart have stated that Russia is on their list for expansion.
