X5 Retail Group has asked suppliers to reduce prices due to the strengthening of the ruble

X5 Retail Group, which owns retail chains Pyaterochka, “Crossroads” and “Carousel”, has initiated talks with suppliers about lowering purchase prices by 10%. The corresponding letter (have) the retailer sent to vendors in mid-February.

The seller requests to reduce prices for delivery by 15 March of the current year. “In the case of non-response reserve the right to revise the terms of our cooperation”, — said in the message of X5 Retail Group.

To change prices the retailer proposes in connection with the strengthening of the ruble. Lately the Euro has depreciated against the Russian currency by 12% and the dollar by 10%, and to maintain competitive advantage the stores have to reduce prices, says the letter.

The newspaper “Vedomosti” also reported the request of the X5, writes that part suppliers have agreed to comply with the terms of retailers. On this edition said the representative of the retailer, noting that the cooperation with the suppliers, confirming the absence of binding prices for their goods to the exchange rate was not interrupted.

In January in connection with the strengthening of the ruble began to revise the prices of their goods vendors and clothing stores and electronics. In particular, information about price changes is confirmed by the network of Shoe stores rendezvous, online retailer KupiVip and Lenovo. Were planning to review prices in “M. Video” and IKEA. The experts emphasized that a small price reduction retailers can use as a marketing ploy.

The price tag grocery retailers in January have not changed. A source in the retail market have attributed this to the fact that the food networks very little of imported goods (mostly vegetables, fruits and imported alcohol) that are affected by the exchange rate.

In November 2016, the dollar was worth 65 rubles., in March, the U.S. currency fell to 58 rubles, the Euro fell over this period from 70 to 61.5 rubles