Galaxus gets off to a subdued start in Germany
Galaxus, a Migros subsidiary, has gotten off to a slow start in Germany. This is reported by the Handelszeitung in its latest issue.
According to a study by the Cologne-based EHI Retail Institute, Galaxus.de generated sales of 14.3 million euros in its first full financial year in 2019. This puts the company in 409th place on the list of the 1,000 largest e-commerce retailers in Germany. The tableau is headed by Amazon.de with sales of over 10 billion euros.
The Swiss parent company does not comment on the figures, as the Handelszeitung writes. However, it is sticking to its ambition of one day becoming the number five in Germany. "The ambition is still there, but we have not defined a date. Galaxus.de is currently experiencing a tailwind in its business performance: "The pandemic is helping our expansion."
