Otto has grown faster than the ecommerce market in Germany over the past fiscal year, largely thanks to its popular marketplace. “The strong growth over the last 12 months gives us the utmost confidence that we are turning a corner after two challenging years”, says CEO Marc Opelt.
Otto’s gross merchandise value (GMV) grew by 9 percent in its fiscal year, while revenue increased by 5 percent. Germany’s largest ecommerce company compares these figures with the overall revenue growth figures for ecommerce in Germany: Handelsverband Deutschland (HDE) estimated this at 3.5 percent for 2024, while the Bundesverband E-Commerce und Versandhandel Deutschland (bevh) reported growth of 1.1 percent.
What remains clear is: Otto is outperforming. The company also claims to be experiencing profitable growth, although it does not specify its profitability figures.
Otto’s GMV and revenue
Otto’s GMV for 2024/2025 reached 7.0 billion euros, a record. However, its revenue of 4.4 billion euros is still below the level of a few years ago. CEO Opelt explains: “In particular, our strong performance in the fourth quarter, with unprecedented success during our Black Friday and Christmas sales, and our focus on an even more curated offering, contributed significantly to this positive result.”
Marketplace growth
Just like its German counterparts MediaMarkt and Zalando, Otto benefits from the growth of its marketplace; sales were 24 percent higher in the past fiscal year compared to the previous one. This is notable because, just six months ago, there was talk of a crisis, with sellers fleeing.
‘For us and our partners, quality is non-negotiable’
Opelt suggests that Otto itself has parted ways with underperforming sellers: “For us and our approximately 6,200 partners, quality is non-negotiable. That’s why, last year, we conducted a comprehensive review of the offerings on our marketplace and made adjustments when we discovered that a partner’s quality standards differed from ours. The fact that marketplace product sales increased by 24 percent last year shows that our customers appreciate the selection of higher-quality products and reputable brands.”
Reorganizing
The product offer also attracts and engages new buyers: Otto saw the number of active customers grow by 4 percent, to 12.2 million. Additionally, Otto’s advertising division is thriving, with 25 percent growth in the past fiscal year. Meanwhile, Otto continues to reorganize: it announced layoffs of hundreds of customer service employees last month.
