Sep 21

M.Video-Eldorado Group Sees Online and Mobile Platform Sales Jump in 3Q 2021

Editorial Staff
Oct 22, 2021
Image: M.Video-Eldorado Group

M.Video-Eldorado Group saw its mobile platform sales double in the third quarter, as Russia’s largest consumer electronics retailer pushed on with its OneRetail strategy and grew its digital reach.

Total online sales (TOS) rose by 17.1% year-on-year to RUB 91.2 billion (incl. VAT), accounting for 67.7% of the Group’s gross merchandise value (GMV), M.Video-Eldorado said in a press release. The average monthly active users (MAU) of the company’s customer mobile apps increased by more than 2.5x year-on-year to over 3.9 million.

The Group’s OneRetail strategy aims to provide customers with a seamless shopping experience, as they switch between browsing and buying phones, iPads, washing machines and other consumer electronics online and at more than 1,178 stores across Russia.

As part of this strategy, sales consultants use iPads that can help them better understand and serve customers, who have come into the shop after browsing M.Video-Eldorado’s website or apps. The total number of SKUs available on the Group’s online platforms and in its offline stores increased by 2.5 times to almost 170,000.

“Our strong performance in 3Q 2020 and the share of total online sales exceeding 50% attest to the fact that M.Video-Eldorado has established itself as an online business whose dynamic and efficient growth is supported by an extensive fulfilment network based on retail stores,” Alexander Izosimov, CEO of M.Video-Eldorado Group, said in the release.

Overall, the Group’s GMV rose by 2.0% year-on-year to RUB 134.7 billion (incl. VAT).

“The Company has successfully leveraged its experience during the crisis to accelerate the implementation of a new off-channel OneRetail model. It has adjusted its operations to meet all post-pandemic consumer expectations, from convenient mobile services and contactless payment to express delivery,” Izosimov said.

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