Russia supermarket chain Lenta is eying further growth after it posted strong sales figures for the second quarter this year.
Sales surged 39 per cent to 46.3bn roubles (£790m) and like-for-like sales jumped 14.1 per cent.
The St Petersburg based company, which opened three hypermarkets and four supermarkets during the second quarter of 2014, heralded its “unique” loyalty card which they say is used in 90 per cent of all transactions. It said its big data programme, which launched in 2012, was proving effective in its loyalty offering.
Chief officer, Jan Dunning said Lenta has continued to invest in its distribution and supply chain to consolidate its future.
It also aims to grow net selling space by 30 per cent.
Inflation in Russia was revised to over 6 per cent by the Ministry of Finance earlier this year which has helped Lenta‘s sales. But analysts warn that the growth will slow over the next few years with less stores to open and prices of fresh fruit and vegetables to rise.
Vadim Khetsuriani, Kantar Retail‘s Moscow-based director of retail insights told freshfruitportal.com: “Rising inflation and the weaker ruble will increase prices for manufacturers, retailers and shoppers. And because inflation will be above the growth in salaries, consumers in general will have less purchasing power.
“There will be a general decline in the volume on offer at a retail level,” he concluded.