A large number of sellers decided to join the online marketplace platform Otto this year. It now has approximately 7 million merchants selling their products via the website.
Today, Otto announced that during the last financial year (2018), they have achieved a higher growth rate than usual. According to Otto, the strong investment into the development of their platform has increased its revenue to 3.2 billion euros ($3.57) in 2018, which is an 8.2% increase.
Alexander Birken, CEO of Otto says: “The new financial year has started in line with our expectations. We are planning on higher revenue growth than last year and a slight improvement in our operating results. Within this, we will be continuing our future-orientated investment programme and continuing to drive the digitalisation of our business models on all levels. We are confident that thanks to our strong value orientation, the Otto Group represents a genuine European alternative in global online commerce – and that our customers, employees and business partners will continue to reward this.”
This year, the company is laying its focus on creating an ‘ecosystem to external retailers and brands’ of their platform. They will achieve this by proving to be a fair, attractive and personal alternative to other platforms. Home and living products will be the focal point.
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