MMK Trading House sets new sales record in 2023
MMK Trading House sold 1.5 million tonnes of metal products for the first time in its 15-year history in 2023, according to the company’s director, Grigory Shchurov, who spoke at the 17th all-Russian conference “Regional Metal Trading in Russia” in Sochi.
Mr Shchurov said this achievement was made possible thanks to the development of the company’s warehouse network. MMK Trading House currently has locations in 36 Russian cities, including new locations that opened in 2023 in Izhevsk and Vidnoye, near Moscow. With 12 new points of sale opening last year, bringing the total to 16, the company’s rapidly expanding retail network saw sales increase by 73% in 2023.
According to Mr Shchurov, another area that saw rapid growth last year was online sales, which increased 2.5-fold in quantitative terms (tonnes sold). During the year, the number of MMK marketplace orders increased by 28%, and 1,840 new customers were added. The electronic trading platform began selling to individuals in 2023, and a mobile app for the marketplace was launched. As another growth factor, Mr Shchurov highlighted improved logistics efficiency, which enables on-time product delivery to customers through a multimodal approach.
MMK Trading House aims to reach annual sales of 2 million tonnes of metal products by 2026, according to its director. It also plans to further develop its branch and warehouse network, in particular by entering regions with high potential for metal consumption, increasing its number of retail outlets and expanding collaboration with existing retail chains.
Another strategic focus is the development of the company’s metal processing capacities. MMK Trading House plans to introduce additional capacities for slitting coils, install units for the production of expanded metal sheets in conjunction with cut-to-length units, and introduce additional capacities for cutting rebar.
In order to increase online sales, plans are in place to make MMK’s marketplace more user-friendly and to expand its functionality. This includes plans to develop the payment functionality, including in respect of financial instruments for legal entities; to introduce a variety of payment methods through the mobile app for the convenience of individual buyers; to create personal accounts for partners; to automate the calculation of delivery costs; to introduce a loyalty programme; and to launch a claims service.