M.Video: Annual Report
The united company M.Video - Eldorado presented its operating results for 2019. The group’s total sales increased by 3.8% and amounted to 437.5 billion rubles.
Sales in comparable stores to the chain, excluding new openings, decreased by 5.5% against the high base of 2018.
Over the past year, the retailer increased its network by 97 stores, to 1,038 outlets. In the fourth quarter of 2019, the decrease was 9.7% compared to the same period in 2018. At the same time, sales in online channels increased over the past twelve months by 70.2% and reached 144.0 billion rubles. Thus, by the end of 2019, the share of online sales in the total revenue of the retailer reached 32.9%. In the fourth quarter, online sales grew by 57.2%, and its share in combined revenue reached a record high of 38.0%.
President of the M.Video-Eldorado Group Alexander Tynkovan: “The Group continued to outpace the market and increased sales by 3.8% to 437.5 billion rubles, integrating all the advantages of online and offline channels within a single business model. The Group’s online sales grew by 70% over the past year, reaching 144 billion rubles, while the online home appliance and electronics market, according to Gfk, showed an increase of 20%.”
The group also presented its own analytics data on the dynamics of the smartphone market over the past 10 years. From 2010 to 2019, Russians acquired about 400 million mobile devices, the total amount of which amounted to almost 3 trillion rubles. In 2010, smartphone sales were only slightly higher than traditional mobile phone sales: they were sold only 15% more than older models. But in 2019, there was only one mobile phone for every three smartphones purchased.