Business Model
We offer deep value across a diverse, unique and constantly renewed product assortment, while creating a “treasure hunt” experience for our customers
Deep Value
Fix Price strives to offer outstanding value through an uncompromising "everyday low price" strategy across nine highly competitive price points, all under RUB 349 (c. US$ 4.9). As of 31 December 2023, c.77% of our products were priced under RUB 100 (c. US$ 1.1).
Diverse Product Offering
We provide a diversified product mix to satisfy various consumer needs. In 2023, our sales was split roughly 1/3 consumables (regular assortment) and 2/3 general merchandise (changing assortment) and encompassed over 20 categories (all profitable). Our largest categories are ambient food & drink (c. 26%), household goods (c. 20%) and cosmetics and hygiene items (c.17%). To ensure an exceptional combination of selection and quality at affordable prices, we balance the portfolio across private label, branded and “no-name” products, with each accounting for roughly 1/3 of our sales mix. Over 70% of our purchases are from local suppliers. We use FX hedging to minimize currency risk in our sourcing.
Constant Newness and Rapid Time to Market
Fix Price’s assortment strategy is based on constant rotation in our product offering. While at any point we carry c. 2,000 SKUs in our assortment, it is constantly refreshed and replenished. We launch approximately 40 to 60 new products every week. Many of these are seasonal or driven by the latest retail trends and fashions. Approximately 65% of SKUs are rotated up to six times per year. Our private label range is key to the constant newness in our customer offering. We operate c. 60 private labels, each of them is a brand in its own right. These products are developed in-house by dedicated procurement and design experts who continuously monitor the market and work hand-in-hand with our suppliers to deliver on-trend, quality products at incredible prices.
Standardised Stores with an Exciting "Treasure Hunt" Experience
We have standardised our entire network of stores in terms of pricing, product assortment, product layout, equipment and marketing. Our stores are located in convenient high-traffic areas, have the same assortment, racetrack, displays and in-store equipment, and follow same floor plans. You can find more information on our stores, and go on a ‘virtual tour’ here. Our floor layouts are easy to navigate and offer multiple opportunities for new product discovery alongside casual top-up shopping. An engaging and pleasant in-store atmosphere helps customers embark on their "treasure hunt" for the next great deal!
Fast-growing Loyalty Programme with Highly Attractive Benefits
Our loyalty program gives our customers even more value and provides us with deep, data-driven insights. Customers participating in our loyalty program can accumulate up to 20% of the check value as bonus points and save up to 50% on subsequent purchases. As of 30 June 2023, there were 24 million registered cardholders in the programme with loyalty card transactions as a percentage of retail sales having reached 62.5%.
The loyalty programme creates substantial savings for our customers and drives more frequent visits, bigger baskets and greater recognition of Fix Price. In 2021, Fix Price was ranked second in the national retailer trust rating and third in terms of visibility, according to a survey conducted by independent research group Romir. In 2022, Fix Price was included in the Top-10 retailers in Russia list by Infoline.
