Conrad Electronic closes stores in Switzerland
Conrad Electronic has made the decision to let the leases of its two branches in Switzerland expire in 2021. This means the consumer electronics retailer will close its physical stores. But Conrad won’t be leaving Switzerland completely: it now focuses on ecommerce and b2b.
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The German electronics retailer will close its Swiss branches in Dietlikon and Emmenbrücke next year. The rental contracts for the physical retail outlets will expire then and for Conrad it’s a perfect time to stop its physical retail activities in Switzerland.
Forecast not sufficiently satisfactory
“Our experience – and this is also expressed in concrete economic figures – has shown that the economic forecasts for the Dietlikon and Emmenbrücke branches were not sufficiently satisfactory to extend the expiring leases next year,” newspaper 20 Minuten quotes a media spokewoman from Conrad.
As said, Conrad won’t withdraw completely from Switzerland. The electronics retailer will continue to be active in ecommerce and b2b. The location in Wollerau, from which Conrad runs its ecommerce business in Switzerland, will therefore remain open.
MediaMarkt is also facing a change
It looks like hard times for the consumer electronics business, as competitor MediaMarkt is also facing a change. Two months ago, the board of directors approved the cut of up to 3,500 jobs of the total 45,000 jobs in Europe. Media Markt Saturn is also reviewing its store portfolio across Europe. Owner Ceconomy had already decided to permanently close 14 stores.