Innovation and strategy of Russian retailers

The article discusses the current state and prospects of the retail industry in the context of sanctions restrictions and the decline in business and investment activity in this and related industries. Sanctions restrictions were noted, which had a marked impact on the economy of the Russian Federation. Their purpose is to slow down the economic development of the country and the competitiveness of the domestic economy. Best practices of retail transformation in the context of digitalization of the economy and transition to innovative forms of trade organization, including retail, have been summarized. Examples of strategies for successful retailers in retail include: Clear focus on target audience requests, expansion of supply in solvent demand sectors, perseverance in promoting trade strategy, promotion of promising forms of trade and value set, development of emotional and self-evident advantages, consideration and attention to unmet needs, gain on scale, integration of social and environmental programs, close attention to consumer requests and competitors ‘behavior, development of employee teamwork skills and social responsibility. Concrete proposals have been made for Russian trading enterprises, including minimization of costs, work with the assortment, clarification of the position and concept of the store, improvement of quality and introduction of new directions.