MediaMarkt marketplace has more than 1,000 sellers
There were 1,060 external sellers active on the MediaMarkt marketplace at the end of July. Ceconomy, the owner of MediaMarkt and sister chain Saturn, welcomes the ‘significant increase’ in marketplace sales, as stated in the reporting on its third-quarter results.
After various trial phases, MediaMarkt opened its doors to external sellers in Germany almost two years ago. Austria and Spain followed later.
121 percent increase in marketplace sales
In these three countries, marketplace sales in the last quarter were 121 percent higher than in the same quarter of the previous financial year, according to the report. Currently, there are about 1.2 million different partner products available for sale on the various country sites.
The marketplace extends MediaMarktSaturn’s product range and offers customers greater choice. Ceconomy states: “It is an important source of income for the company, which requires no internal inventory holding and thus avoids the related costs.”
‘The marketplace is an important source of income’
Decline in online sales
In the past quarter, Ceconomy saw its total online revenue decrease by 1 percent, amounting to 947 million euros. This led to a decrease in the online revenue share from 22.9 to 20.4 percent over the course of a year. However, the profitability of online sales is on the rise, as more and more online shoppers choose to pick up their orders in the store. The pick-up rate increased from 38 to 41 percent, as reported by Ceconomy.
The marketplace is expected to help Ceconomy regain ground in the online market. In the last full financial year (2021/22), Ceconomy’s trading volume from the marketplace amounted to 65 million euros, as indicated in the quarterly report. Since then, platform revenues have shown substantial growth. The report also includes a revenue ambition: by the 2025/26 financial year, the marketplace is projected to account for 750 million euros in gross merchandising value.
The Netherlands and Italy are next
Ceconomy announced that MediaMarkt’s marketplace will be launched in the Netherlands and Italy, without specifying concrete dates.