Ceconomy: from retailer to service platform
2021–2025 · CECONOMY AG / MediaMarktSaturn
Background
Europe's largest consumer-electronics retailer, with more than 1,000 stores, previously led by separate managements at holding and operating level.
Challenge
Online competition, thin margins and volatile demand after the pandemic.
Objective
Become a “customer-centric service platform”; adjusted EBIT above €500 m and a 30% online share by FY 2025/26.
Strategy
Omnichannel core plus services, marketplace, private label and retail media; 90% of stores modernised; loyalty programmes in more countries.
Implementation
Unified leadership from August 2021; marketplace live in Germany, Austria and Spain; myMediaMarkt Plus subscription in Germany from autumn 2023.
Outcome
FY 2023/24: sales €22.4 bn (+5.3%), online €5.1 bn, adjusted EBIT ≈ €305 m. He left before the target year.
Criticism
2022 profit warning; 2022/23 losses and no dividend; low market valuation; trade-press doubts about strategic innovation.
Broader significance
The template — pillars plus quantified targets — reappears in his ministerial agendas.
