Otto: 30% increase in turnover in the financial year 2020/21

After a "restrained" start into the financial year 2020/21 due to the pandemic, Otto reported an overall increase in turnover of 30 % (from around 3.5 to 4.5 billion EUR). The Hamburg-based online retailer published the figures in a press release. Otto thus "continues the positive development of the past eleven years". In addition, for the first time over 10 million customers were active on otto.de (previous year: 7 million).

In 2018, the company had already started to expand its online presence with a retailer platform ("Otto Market"); currently, more than 1000 retailers are active on the platform. Payment processing for marketplace merchants and Otto's own product range is expected to be managed by a joint payment service provider from the second quarter of 2022.

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