The online sales of Otto, one of the world’s largest online sellers, witnessed an increase during the previous financial year of up to 7.7 billion euros. Compared to the year before, that equals an increase of 4.5%.
Most of Otto Group’s revenue is still generated from its active brands in Germany. The last annual report shows that the group’s online revenue in its home market has risen to 5.3 billion euros. This is an increase of 5.2%.
The company is expecting yet another increase in online revenue for the upcoming year, even though the growth of this year has not reached its expectancy. According to Otto: “The unusually long and hot summer in Europe, which affected business in general, impacted the Otto Group’s textile and furniture revenues, and consequently the financial performance as a whole.” The withdrawal of certain brands that Otto owns has also negatively influenced revenue growth.
Just like the past twelve months, the online retailer is planning on investing a lot into the expansion of its platform. In early days, Otto started as a mail order company. These days, it has grown into an online retailer that allows external vendors to sell on its platform, too. Customers can expect to access products from almost 3,000 new partners by the year 2020.
The platform is currently present in more than 30 countries, throughout North and South America, Europe and Asia. The company has approximately 52,000 employees and owns multiple service providers and retailers.
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