Media Markt and Saturn will not allow themselves to be side-lined now that Europe is once again under the spell of lockdowns. In Belgium, all stores had to be closed, and even then, the electrical retailer is selling well.
End-of-year actions have already started
In October, Ceconomy, the parent company of Media Markt and Saturn, recorded very strong sales performances in all countries. The company registered a noticeable acceleration compared to the previous quarter. Also, in November, sales momentum continues, despite local lockdowns and increasingly strict social distancing measures. That is what the group says in a corona update.
The growth is a result of a focus on online sales, more than ever before. But also, a consequence of discount promotions. This, to ensure that Christmas sales are accrued even before potentially stricter lockdowns and store closures are imposed. For example, Ceconomy is launching longer end-of-year promotions and has already kicked-off “some tactical pre-Black Friday campaigns“.
Well prepared
As many as 92% of the stores are currently open, with possible limited opening hours (e.g. in Austria and Italian shopping centres) or possible capacity restrictions (Germany). In Belgium only, all physical stores are temporarily closed. Also, in Poland, stores located in shopping centres are currently closed. However, Ceconomy points out that stores in both countries remain open to collect online orders, to return products or to request repairs.
Ceconomy says it is well prepared for this uncertain period. After the first lockdown, emergency plans were developed and are now being implemented. Even then, the retailer says, it showed a resilient performance, proving that the German group can react quickly. For example, during the first wave of the pandemic, the company prides itself on having absorbed the enormous increase in online traffic “without any disruptions”.
