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Russia: Fix Price introduces new price categories in stores throughout Russia

Discount Retail Chain Fix Price introduces new price levels for the sale of goods, 59 rubles (US$0.83) and 79 rubles (US$1.11), while another current level, 55 rubles (US$0.78), remains, according to the company's quarterly reports. Company representatives said that the upcoming changes in pricing policy are associated with a general rise in prices for goods in the country amid inflation. The new minimum price will be introduced gradually from November 1. New prices are being introduced in all stores of the chain.

“We kept the minimum prices to the last by working with suppliers,” said a representative of the chain. Today Fix Price has eight types of fixed prices from 50 (US$ 0.70) to 299 rubles (US$4.22). With the introduction of positions at 59 (US$0.83) and 79 rubles (US$1.11), the number of fixed prices will become 10.

These measures will increase gross profitability and increase sales, according to the company. The correction is taking place against the backdrop of rising consumer prices and inflation in the country.

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