Thanks to its booming online business, electronics retailer Ceconomy with its Saturn and Media Markt chains has so far been able to get through the pandemic well. “The past financial year was a real acid test for our company. We passed this acid test,” said CEO Karsten Wildberger. Despite the month-long corona-related closure of numerous stores, sales of the electronics retailer rose in the 2020/21 financial year, currency and portfolio-adjusted, by 3.8 percent to 21.4 billion euros in the end of September. The biggest growth driver was the online business: with a 65 percent increase in sales, it was able to more than compensate for the pandemic-related decline in brick-and-mortar business. The Group’s online sales have now more than doubled within two years. It is now 6.9 billion euros. This means that e-commerce accounts for a third of all business.
Electronics retailer – online trading helps Ceconomy – economy
