21.02.2017 | Hamburg/Berlin
In the current 2016/17 financial year (to 28.02) the Otto Group, the internationally active retail and services group, will raise its e-commerce revenues to almost € 7 billion (according to preliminary estimates). This represents revenue growth in its existing business of almost 10% or € 615 million. The Group’s online business in Germany generated almost € 5 billion, also seeing growth of almost 10%.
E-commerce remains the retail-business driver at the Otto Group, the internationally active retail and services group. Compared to the 2015/16 financial year online revenues rose by around 10% from € 6.3* billion to almost € 7 billion, according to initial forecasts. In Germany, preliminary results indicate that revenues also climbed by almost 10% from € 4.47* billion in the previous financial year to reach almost € 5 billion this year. These figures would provide strong confirmation of the Otto Group’s position amongst the world’s top 5 largest e-commerce players, and as no. 2 in Germany. E-commerce revenue development in some Group’s business segments is also significantly above the overall market trend.
“We are very satisfied with this revenue development”, emphasises Dr Rainer Hillebrand, Vice Chairman of the Executive Board Otto Group, Corporate Strategy, E-Commerce and Business Intelligence: “We are seeing high double-digit growth in numerous Group companies and have already implemented the digital transformation here very successfully. In other companies there is still work to be done, however. We know that we need to deliver maximum commitment to remain able to satisfy our customers’ demands and constantly renew their loyalty towards us.”
Particularly over the last financial year the Otto Group has launched numerous technological and customer-orientated initiatives, as well as fundamental processes such as #Kulturwandel 4.0 (‘Culture Change 4.0’). Especially with regard to e-commerce and retail-related services, over the next few years these moves will help the Group achieve highly dynamic momentum. Amongst the initiatives are the founding of Otto Group Digital Solutions, setting up a Mobile Lab, the consistent pilot-testing of new technology trends – for instance in the areas of Personalisation and Conversational Commerce – and last but not least the appointment of the experienced digital expert Sebastian Klauke as the Group’s Chief Digital Officer (CDO).
*On like-for-like sales.
Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 49,600 employees. The Group includes 123 major companies and is present in over 30 countries in Europe, North and South America and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services and Service. In the 2015/16 financial year (to 29 February), the Otto Group generated turnover of 12.1 billion euros. It is one of the world’s largest online retailer. E-commerce, catalogue sales and over-the-counter retail form the three pillars of the Otto Group’s Multichannel Retail strategy. Its worldwide corporate activities, numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies operate largely independently, guaranteeing flexibility, customer proximity and optimum target-group appeal in their respective national markets.