Grocery business

In 2024, food retail sales in Belarus grew by 12.1% year-on-year, up 5.8% in real terms (adjusted for inflation).

In 2024 modern grocery retail penetration reached 60%, yet still remained structurally low compared to other emerging and developed countries. This situation, however, reflects the potential for further growth.

In 2024, there were no significant changes among the top 5 players in the market. Their share increased to 44%. The Belarusian market remains fragmented compared to Western countries, yet it is still more concentrated than the Russian market.

Eurotorg remains the undisputed leader in the Belarusian grocery retail market, with a market share of 20%. The Company's share of modern trade formats is ~32%, which is two times greater than the second largest player and greater than the market share of the next three peers combined. Eurotorg also has a huge advantage in terms of geographic spread, with a presence in over 180 localities where no other modern grocery retailer has a single store.

Eurotorg operates a multi-format chain, from convenience stores to supermarkets and hypermarkets, under the four banners: Euroopt, Hit!, Groshyk and Euroopt Prime. Most of the stores are in the convenience format under the Euroopt banner. The Hit! discounter banner was launched in 2019 and the Groshyk banner in 2020, respectively. The Prime-format stores, which offer an extended assortment of premium brands and healthy-eating products, are only opened in large shopping centres in Minsk.

As of the 31 December 2024, the number of urban- and rural-convenience-format stores amounted to 974, while their total share in the Company’s selling space was 47%. As of the end of 2024, convenience stores accounted for 55.1% of total net retail sales.

Keeping up with the times, Eurotorg responds to the consumer demand for lower prices and focuses on the expansion of soft and hard discounter formats in highly competitive locations. As of 31 December 2024, the aggregate share of discounters in the Company’s selling space reached 26%, while their share in net retail sales of grocery stores was 32.5%.

The multi-format chain model allows the Company to adapt and successfully navigate through any market changes, as well as to diversify its value proposition and provide the consumers with numerous shopping options that meet their demand, individual needs and preferences.