Russia's largest electronics retailer has decided to start selling nuts
M.Video, Russia’s largest electronics retailer, has decided to expand its product range and begin selling food products following a decline in its financial performance.
The company announced the launch of new product lines, including tea, sweets, snacks, sauces, canned goods, soft drinks, and health foods.
The reason for this move was a sharp drop in demand for electronics. According to market data, in 2025, smartphone sales fell by 20%, laptop sales by 15%, and TV sales by 9%.
M.Video’s financial results have also deteriorated: sales for the first half of the year fell by nearly 12%, revenue by more than 15%, and the net loss exceeded 25 billion rubles.
The company does not rule out a network reduction—between 20% and 30% of stores could be closed.
Russia is seeing a trend toward staff reductions across various sectors, including IT, healthcare, logistics, manufacturing, retail, consulting, and other business services.
The Russian Ministry of Finance forecasts a sharp increase in regional budget deficits to $21 billion.
