Zalando Retains Top Spot Despite Revenue Drop, Galaxus Gains Ground

Temu, a newcomer to the Swiss ecommerce scene, has quickly ascended to the ninth position

Despite a decline in revenue, Zalando continues to hold its position as the largest online retailer in Switzerland. According to the latest figures from Carpathia, an ecommerce management consultancy, Zalando remains the leader in the business-to-consumer (B2C) sector with an estimated sales volume of 1.69 billion euros in Switzerland for 2023. This marks a decrease of 100 million euros from the previous year, reflecting a broader trend of declining revenue for Zalando at the corporate level over the past two years.

Local online department store Galaxus has now emerged as the second-largest player in the Swiss ecommerce market, experiencing significant revenue growth last year. Galaxus, which is also expanding rapidly beyond Switzerland, saw its revenue jump from just over 1.0 billion to nearly 1.4 billion euros. This growth has propelled Galaxus ahead of its sister company Digitec, which experienced a slight decline in revenue. Although the revenue gap between Zalando and Galaxus is still considerable, the latter’s rapid growth suggests that it could potentially challenge Zalando for the top spot in the near future.

Temu, a newcomer to the Swiss ecommerce scene, has quickly ascended to the ninth position among the top online retailers. The company has been growing rapidly in various European markets, including France and Germany. Carpathia’s annual ranking highlights the top 50 B2C stores and the top 15 business-to-business (B2B) stores in Switzerland, showcasing the competitive and dynamic nature of the ecommerce landscape.