Magnit starts implementing AI-powered customer offering personalization

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Lyudmila Podyapolskaya

Director of Department for Customer Value and Customer Experience Management at Magnit

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"This represents a fundamentally new approach to how we manage our customers, one that focuses on creating the most effective offers tailored specifically to each customer's needs and communicating these offers via the right channel at the right time. Thanks to the best global practices brought in by BCG, after our algorithms are launched, Magnit will become one of the first Russian retailers able to operate thousands of unique promo campaigns every day. IT systems for CVM will be integrated with the existing tools, and the entire transformation process will take place within the Company's perimeter, which will help minimize costs and speed up the roll-out".

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Nikolay Yakovlev

BCG's Managing Director and Partner, Head of Consumer and Retail Practice in Russia and CIS

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"Today, personalization is no longer a fashionable trend - it is increasingly used as a tool to ensure competitive advantage, especially in retail. Over the last few years, many businesses started experimenting with personalized offers in one form or the other. However, based on our experience with leading global retailers, we see that companies achieving the best results are those that utilize modern AI-powered advanced analytics. This approach enables personalized promo offers to have more than double the output compared to mass promos".

For further information, please contact:

Dina Chistyak

Head of Investor Relations 
dina_chistyak@magnit.ru

Office: +7 (861) 210 9810 x 15101

Media Inquiries                    Twitter

press@magnit.ru                    @MagnitIR

Note to editors

"Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2021, Magnit operated 45 distribution centers and 25,315 stores in 3,840 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS 16 management accounts results for 9M 2021, Magnit had revenues of RUB 1,311.5 billion and an EBITDA of RUB 151.4 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB.

Forward-looking statements

This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.