🌍 Growing Globally
MediaMarkt, owned by Ceconomy, is launching its marketplace in Belgium, Poland, and Turkey this fiscal year. This move builds on its successful expansions into Austria, Spain, the Netherlands, and Italy. Marketplace sales have become a major revenue stream for Ceconomy, contributing to its 5.3% revenue growth in 2023-24, which totaled $23.7B, with 24% from online sales.
📈 Marketplace Revenue Soars
Marketplace GMV more than doubled last fiscal year, reaching $303M. Ceconomy has set a target of $800M GMV by 2026. With 1,600 sellers and 2M products currently listed, MediaMarkt's platform continues to grow. This success is attributed to strategic rollouts, enhanced omnichannel features, and onboarding new sellers and categories.
🛍️ New Products and Services
MediaMarkt is diversifying its product range. Beyond electronics, categories like sports gear, children’s products, and lamps will soon be available. New financing and insurance services, already in Germany, will extend to Austria, Spain, and Italy. This broadening aims to enhance shopper experience and seller opportunities.
🔮 Future Goals
Ceconomy plans to increase its online revenue share to 30% within two years. With a strong focus on geographical and product expansion, the company is aligning itself for long-term growth. CEO Karsten Wildberger stated, “Our marketplace model is transforming how we connect buyers and sellers globally.”
Will MediaMarkt lead Europe’s marketplace game?
