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The Sam Walton of Russia? Perhaps

Sergei Galitsky and his grocery chain, Magnit, are giving Russian consumers low prices and competitors’ fits

Among the reasons Sam Walton was able to grow Walmart into such a fantastic enterprise: low prices and avoiding big cities.

Sergei Galitsky, founder and owner of Magnit, a fast-growing Russian grocery chain, is following that same strategy now.

Galitsky's chain has grown to become one of that country's largest by focusing on small markets many other chains find hard to serve and therefore avoid.

In a country where many still put 40% of their household budget towards food, Magnit also emphasizes low prices.

Like Walton, Galitsky uses technology to be more efficient. After it became apparent that the Magnit’s cashiers were getting sick too often in winter, Magnit installed temperature sensors that warn if the checkout area is getting too cold.

Read the full story here.

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