28.7 billion francs: Migros achieved record sales last year. While sales in the shops declined somewhat, online sales grew strongly, as Migros announced in a communiqué on Friday.
The convenience store and discounter Denner also grew. In addition, price cuts and sales by the subsidiaries Gries Deco with the Depot and M-Way brands had an impact on sales.
For comparison: Competitor Coop’s sales of CHF 30.7 billion in 2019 were more or less the same as in the previous year. While the retail business grew, the group of exchange rate effects in the wholesale business was slowed down.
Price cuts depress sales
At Migros, retail sales in Germany rose by 0.6 percent to CHF 22 billion. By contrast, sales in the cooperative retail trade fell slightly by 0.7 percent to CHF 16.7 billion. The decline was even greater in the supermarkets and hypermarkets of the ten regional Migros cooperatives in Germany, where sales shrank by 1.4 percent to CHF 11.6 billion.
The reason for this was price reductions on the 1,500 most important products in the summer. After all, customers actually made more purchases in the Migros stores.
At the same time, people were busy ordering on the Internet. The Migros Group’s total online sales grew by 9.9 percent to CHF 2.3 billion. Digitec Galaxus’ business flourished particularly: Switzerland’s largest online retailer broke the billion mark for the first time with CHF 1.1 billion. That is 16.1 percent more than a year ago. The food online retailer LeShop and the online shops of the specialist stores also improved.