Ceconomy Targets Doubling Marketplace GMV to €1.9B by 2029

Ceconomy last week outlined a three-year strategy for its MediaMarkt and Saturn chains. The company wants to more than double the gross merchandise value of its online marketplace, from €800 million in the fiscal year ended September 2026 to €1.9 billion by the 2028-2029 fiscal year.

The electronics retailer also reported full-year results for fiscal 2025-2026. Total revenue came in at €23.2 billion. EBIT margin was 2.2 percent, or roughly €500 million. Ceconomy expects revenue to grow only modestly to around €24 billion by 2029. The company cited increased competition from Amazon and Temu as a factor. The target EBIT margin for 2028-2029 is 3.3 percent, which would translate to about €800 million.

The strategy presentation did not include specific targets for MediaMarktSaturn's own online sales channels. That marks a change from prior years, when ecommerce goals were part of the plan. The company did share targets for its marketplace. The marketplace GMV is expected to grow from €800 million to €1.9 billion by 2029.

MediaMarktSaturn outlined several steps to reach that goal. The marketplace will launch in Hungary by September 2027. The company also plans to broaden its assortment by adding more sellers and expanding into new categories such as pet care, mobility, energy, health and sports, and baby and kids products.

Separately, JD.com was reported in February to be in talks with Ceconomy about a potential acquisition. The German government has approved the sale. The deal still needs clearance from the European Commission. The EU Commission has not yet ruled on the transaction.