Preliminary estimates indicate that the international Otto Group is on course to e-commerce revenues of nearly EUR 7 billion, an increase of 10 per cent or EUR 615 million, at the end of the 2016/2017 fiscal year ending on February 28, a press release said Tuesday (February 21). The group has generated nearly EUR 5 billion, an increase of nearly 10 per cent, in German online business.
Otto Group among Top 5 global, e-commerce players
E-commerce remains the retail-business driver at the Otto Group. Compared to the 2015/16 financial year, online revenues rose by around 10 per cent from EUR 6.34 billion to almost EUR 7 billion, according to initial forecasts. In Germany, preliminary results indicate that revenues also rose by almost 10 per cent from EUR 4.47 billion in the previous financial year to reach almost EUR 5 billion this year. The figures confirm the Otto Group’s position among the world’s Top 5 largest e-commerce players, and as no. 2 in Germany after Amazon.
Digital transformation – basis of success
Dr Rainer Hillebrand, Vice Chairman of the Executive Board Otto Group, Corporate Strategy, E-Commerce and Business Intelligence, stressed: “We are very satisfied with this revenue development.” He added: “We are seeing high double-digit growth in numerous group companies and have already implemented the digital transformation here very successfully. In other companies there is still work to be done, however.” During the last financial year, the Otto Group launched several technological and customer-orientated initiatives, as well as fundamental processes such as Culture Change 4.0.
New position of Chief Digital Officer
Especially with regard to e-commerce and retail-related services, over the next few years, the measures will help the group achieve highly dynamic momentum. The initiatives included the founding of Otto Group Digital Solutions, setting up a Mobile Lab, the consistent pilot-testing of new technology trends, for instance, in “Personalisation and Conversational Commerce” and the appointment of the experienced digital expert Sebastian Klauke as the group’s Chief Digital Officer (CDO) from July 1, 2017.
Sources and further information:
Statistik: Deutschlands E-Commerce-Branche (Germany’s E-Commerce Sector)