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This ratio lacks consistency and shows a certain degree of uncertainty: Media Markt Switzerland has had eight CEOs in just 13 years. The home electronics chain was ranked number 1 in Switzerland in 2012. Rivals Digitec Galaxus, Interdiscount and Fust have now replaced the former top rival.
Digitec Galaxus is currently at the top by far. And the new CEO Stefan Fraude (41), Media Markt Switzerland’s fiercest rival, also comes from there. He will work in various functions at Digitec Galaxus from 2016 until the end of 2022. Now he must take Media Markt’s Swiss business back to the winners’ podium.
No ejection seat
Despite the many changes, CEO Fraude does not believe the leadership position is a throwaway chair. On the contrary: “This is a great opportunity for me, I love challenges!”
Blick met the HSG graduate at Zurich main station. The new boss is bursting with ideas. One of the firsts is taking shape: the “Experience Pop-up” kicks off at HB Zurich on Friday. Visitors will have the opportunity to repair iPhones at the “Smartbar” and taste coffee from Migros capsule alternative Coffee B until mid-January 2024. “Sustainability plays an important role at Media Markt,” says Zurich Fraude. You can have your iPhone repaired, buy a used device, or exchange your device in exchange for a coupon at branches without prior registration.
Online retail surpasses physical retail for the first time
According to GFK’s market analysis, total sales in the home electronics trade in Switzerland will be 5.6 billion francs in 2022. In 2022, for the first time, Swiss consumers spent more on electronic products online than in traditional brick-and-mortar stores. So there’s still plenty of money to be made.
That’s why Fraude wants to invest heavily in digitalization. This would work without closing 25 Media Markt stores. On the contrary, the new CEO is considering opening new restaurants in busy city centres. Sales areas are constantly checked. Media Markt has recently downsized several of its stores.
New online store and product range expansion
A completely new online store will open next summer. Media Markt’s product range will also be expanded this year: from today’s 12,000 products to 50,000 products.
The boss of 1,015 employees says: “Today, our online sales share is below 30 percent. “Our goal is to grow strongly here,” he said. Stefan Fraude wants to turn Media Markt Switzerland around and reorganize the company. Vision: Media Markt should no longer be positioned as a pure product seller. Instead, rely more on good service. It’s not an easy task.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
