Home » Business » Food was delivered by express – Newspaper Kommersant No. 205 (7167) dated 12/11/2021

Food was delivered by express – Newspaper Kommersant No. 205 (7167) dated 12/11/2021

The X5 Group, announcing plans for the IPO of operators of its services in e-commerce, promised to increase the turnover of its online business in preparation for listing on the stock exchange. But according to the results of the third quarter of this year, the company dropped from first place immediately to third, yielding to Sbermarket and Vkusvilla. Analysts explain the castling by the fact that X5 initially relied on purchases for future use, which later turned out to be less in demand among consumers than express delivery. The company itself claims that it deliberately “does not overheat” the growth rate of its online business.

Kommersant has at its disposal a rating of companies prepared by Infoline in terms of online sales of consumer goods (e-grocery) based on the results of the third quarter. It follows from it that X5 Group, which held the first line, dropped to third place, yielding leadership to Sbermarket and Vkusvilla. Thus, in July-September, the aggregate turnover of X5 Group’s online services (Vprok.ru Perekrestok, Perekrestok.Bystro and Pyaterochka.Dostavka) amounted to 11.5 billion rubles. against 11.9 billion rubles. in the second quarter. Sbermarket’s turnover in the third quarter reached 14.5 billion rubles, while Vkusville’s turnover reached 11.6 billion rubles.

In annual terms, following the results of the third quarter, the turnover of Sbermarket increased by 212%, Vkusvilla – by 202%. Vprok.ru Perekrestok grew by 50% year-on-year, while fast delivery services for X5 Group products increased turnover by 398%.

The total turnover of the e-grocery market in the third quarter amounted to RUB 90 billion, and by the end of 2021, Infoline expects RUB 380 billion. due to a record-breaking fourth quarter.

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Asan Kurmanguzhin, CEO of Sbermarket, explains the company’s emergence as the segment leader by the fact that the number of orders has grown to more than 100 thousand per day. Yevgeny Rimsky, quality and purchasing manager at Vkusvilla, says that it was possible to increase turnover, including by opening new dark stores, of which there are now 89.

X5 Group considers the results of the rating to be predictable. “We are deliberately not overheating our own growth rates online, balancing them with cost-effectiveness of delivery and refraining from over-investing in price promotions and marketing,” the company added.

However, the CEO of Infoline Ivan Fedyakov explains the results of the X5 Group by the fact that initially the group relied on the format of future purchases, but later the express delivery of products, in which the company’s position was not so strong, was launched.

In June of this year, X5 Group separated the online business into a separate structure, which included grocery delivery services, as well as delivery from Okolo restaurants. The company is considering several options for the development of this area. A year earlier, the X5 Group announced a digital business IPO in 2022-2023. Then the retailer promised to increase the turnover of its online business.

Gazprombank analyst Marat Ibragimov saw a positive signal for X5 in the leaders’ castling: “This is how the group demonstrates that it does not throw money away.” According to Boris Ovchinnikov, a partner at Data Insight, the fact that X5 has failed to establish itself as a clear leader in this segment may be “unpleasant” for the company, but on the other hand, it is “the undisputed leader in online among traditional retailers.” In addition, in such a rapidly developing market as e-grocery, the list of leaders will change frequently, says Ivan Fedyakov. “Although now Sbermarket has achieved strong results, but in the long term the service will need to reach profitability and introduce or increase service fees, which may scare off part of the audience,” he does not exclude.

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In 2022, the growth rate of the e-grocery market will slow down, but market stagnation should not be expected, Mr. Ovchinnikov predicts. Recently, the e-grocery market has been growing monthly by 70-75% year-on-year, and while there are no prerequisites for a decline, Alexander Shurkaev, head of online trading at NielsenIQ Russia, disagrees. According to NielsenIQ estimates, by the end of 2021, the share of e-grocery will amount to 4.5–5% of the total turnover of FMCG products.

Dmitry Shestoperov


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