Migros Ticaret (MGROS) CMD 2026 summary

Strategic vision and business model evolution

• Aims to be the most loved and valuable new-generation retailer in Türkiye, targeting 50% digital customer transactions and omnichannel reach to all households within 15 minutes.

• Transitioned from organized retail pioneer to omnichannel leader, expanding into online, fintech, meal delivery, and retail media.

• Persistent market share gains in both total and modern FMCG, with faster-than-market growth in online channels and exceptional sales performance.

• Digital ecosystem leverages physical presence, online platforms, fintech, and retail media for cross-traffic and profitability.

• Strong brand equity, high NPS, and broad household penetration, with significant growth potential in underpenetrated regions and segments.

Operational excellence and technology

• Unrivalled product offering with over 20,000 SKUs, extensive private label range, and vertical integration in fresh categories.

• Advanced logistics with 43 distribution centers, macro space management, and improved shelf availability.

• Data-driven loyalty program (Money Card) with 14.3 million active members, driving 86% of sales and significant incremental revenue.

• AI and technology drive merchandising, inventory management, and in-store digitalization, resulting in improved efficiency and free cash flow.

• Hybrid stores and omnichannel model yield higher basket size, gross margin, and operational efficiency.

Digital and ecosystem growth

• Migros One platform integrates grocery, meal, personal care, and parcel delivery, with 6 million unique online customers and 14 million app downloads.

• Online sales now 21% of total, projected to reach 27.5% by 2030, with hybrid customers spending and visiting more frequently.

• Meal delivery (Migros Yemek) attracts younger customers, drives ecosystem synergies, and boosts online grocery GMV.

• Fintech (MoneyPay) expands B2C and B2B offerings, aiming to increase share of wallet and profitability through payment, lending, and employee benefit products.

• Retail media (Mimeda) leverages first-party data and digital inventory, contributing to EBITDA margin and offering high-ROAS advertising solutions.