Posted on 08/17/2019 4:13:26 AM PDT by NorseViking
MOSCOW (Reuters) - Russia's top food retailer X5 is gearing up to compete with burgeoning online players to meet growing demand for convenience foods from time- and price-conscious consumers, Chief Executive Officer Igor Shekhterman told Reuters.
"We used to compare ourselves with offline players, but we now say that we work in the food market and our competitors not only count traditional players, but also digital companies ... and fast-food restaurants," Shekhterman said.
E-commerce has flourished in Russia over the past decade, prompting brick-and-mortar retailers to invest in online services and delivery. In recent years, grocers have also felt the pinch from thriving online meals ordering companies.
"We see that this need is growing everywhere, it really is a trend: people want to cook less," Shekhterman said.
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