Zalando’s partner share grows alongside its advertising business

Partners accounted for 33.6% of Zalando’s third-quarter business-to-consumer gross merchandise volume, the company reported on November 3. That was a rise of 2.9 percentage points year over year. Retail media revenue also grew, by nearly 18%, and reached 2% of B2C merchandise volume. Z1

The figures describe two sides of the platform business: partners supply a larger share of merchandise volume, and advertising brings in more revenue. For a brand deciding whether to spend more there, the missing number is its own contribution after costs. Platform growth alone does not supply that answer. Z1

Zalando reported €3.2 billion in group revenue for Q3, up 5.1%, and reaffirmed its full-year guidance. Its reported financial comparisons include ABOUT YOU from the July 11, 2025 acquisition closing date. That basis matters when comparing this quarter with the previous year. Z1

Compare contribution from the same assortment after product costs, advertising, platform fees, fulfillment and returns. Where reporting allows, separate sales attributed to paid campaigns from sales without paid attribution, and check the attribution window. The decision is whether additional marketplace spend produces enough contribution to justify it. Zalando’s larger partner business makes that a question worth asking, rather than an answer already given.