Vaudois spend less at Migros
The turnover of the Migros Vaud cooperative is down in 2022 compared to the previous year.
In 2022, inflation has pushed Vaudois to look for promotions and cheap products in their Migros supermarkets. Result: the Vaudois cooperative saw its turnover decrease.
DR
Only three journalists attended, this Monday April 3, the presentation of the results of Migros Vaud for the year 2022. In a huge room of the Palais Beaulieu, the director Anton Chatelan warns from the outset that the situation is not simple: following a lull at the end of 2022, inflation has started to rise once more in Switzerland, and the war in Ukraine is still shaking up the commodity and energy market.
An average basket at 33 francs
In this context, the consumer climate has never been so low for fifty years in Switzerland. This partly explains the drop in the cooperative’s turnover, down 37 million francs between 2021 and 2022, i.e. more than 3%. Its profit is also shrinking, but more slightly, thanks to the resale of the Club Migros Schools, the Fitnessparc Malley and the Bougy golf course to subsidiaries of the orange giant. This process has mechanically brought money to the Vaud cooperative, allowing it to mitigate its losses in 2022.
Because the facts are there: in supermarkets and hypermarkets, customers spend less than before with a basket at 33 francs on average. As for specialized stores such as Micasa, Melectronics or SportXX, they are suffering from competition from the Internet and are also experiencing a reduction in their turnover.
“That hasn’t stopped us from continuing to grow.”
The growing attractiveness of organic (+6%) and vegetarian products (+6%) did not compensate for the losses in the group’s other segments. And to avoid passing on all the price increases to the shelves, Migros Vaud has cut back on its overall margin, down 16 million in 2022.
“But that did not prevent us from continuing to develop, and from distributing 7.7 million in 2022 for social and cultural projects in the canton”, specifies its director Anton Chatelan. Three new points of sale will be opened this year. Migros remains the largest distributor in the canton.
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