Migros: Products, Prices and the Big Transformation
100 years of history, Switzerland’s largest private employer, and a crisis that forced reinvention. CHF 500 million in price cuts, sale of non-food brands, 140 new stores. The new Migros.
Migros turned 100 in 2025. But instead of celebrating, it spent the year selling everything that wasn’t a supermarket.
Hotelplan (travel agency). Mibelle (cosmetics). SportX. Melectronics. Do it + Garden. Tegut in Germany. The 25 Alnatura organic shops (closed end 2025). All gone. CEO Mario Irminger’s message: "Migros is going back to what it does best. The supermarket."
And to win back lost customers: CHF 500 million in permanent price cuts in 2025. Over 1,000 products reduced "to discount level". M-Budget strengthened. Cumulus expanded. 140 new stores planned by 2030.
Migros by the numbers (2026)
| Fact | Value |
|---|---|
| Stores | ~790 (target 930 by 2030) |
| Supermarket revenue | CHF 12.7 billion (2025, incl. online) |
| Group revenue | CHF 31.9 billion |
| Profit | CHF 1.1 billion (incl. one-off sale effects) |
| Price cuts 2025 | CHF 500 million |
| New stores planned | 140 (by 2030) |
| Renovations | 350 stores (by 2030) |
| Investment | CHF 2 billion |
| Products/store | ~13,000 |
| Cumulus members | 2+ million |
| Food market share | 37.4% (declining; Coop: 43%) |
| Alcohol in-store | No (80% cooperative vote 2022) |
| Migros Online | CHF 365 million (overtaken by coop.ch) |
| CEO | Mario Irminger |
| Founded | 1925 by Gottlieb Duttweiler |
Prices: what changed?
After CHF 500 million in cuts: K-Tipp 100 products (Aug 2025): Migros third at CHF 243.54 (5.5% behind Aldi).
M-Budget weapon: milk CHF 1.03/L (cheaper than Aldi), butter CHF 2.95 (cheaper than Lidl), spaghetti CHF 1.20/kg (discount level).
K-Tipp: "M-Budget and Prix Garantie are at discount-level pricing on many staples." Irminger: "There’s no reason to go to a discounter any more."
But: 5-6 out of 100 M-Budget products missing in medium stores. Then you buy M-Classic = 38% more.
Where Migros is weaker
Market share: 37.4% Food (Coop: 43%). Losing in nearly all categories.
Online: Migros Online 20% pricier than coop.ch. Overtaken in revenue.
No alcohol: Confirmed 2022 by 80% of cooperative members. Denner or Migros Online for alcohol.
Budget meat: M-Budget chicken CHF 13.80/kg vs Prix Garantie CHF 11.50/kg. Coop wins clearly.
The big restructure
2024-2025: sold/closed Hotelplan, Mibelle, SportX, Melectronics, Do it + Garden, Tegut, Alnatura. Focus: supermarket only. New Migros Supermarkt AG centralises purchasing across 10 cooperatives. Private label share from 78% to 80%.
Irminger (NZZ, March 2026): "It’s completely irrelevant whether Coop overtakes us."
Cumulus
2+ million members. 1 point/CHF = 1% cashback = ~CHF 120/year. Personalised vouchers CHF 5-15/month extra. Cumulus Visa (Migros Bank): free, points outside Migros, travel insurance, no FX fees.
Who is Migros for?
Perfect if: full weekly shop in one place, M-Budget for basics, Cumulus user, wide range (13,000 items), quality fruit/veg.
Less so if: lowest price is priority (Lidl/Aldi 5% cheaper), need alcohol, shop online (coop.ch cheaper), buy budget meat (Prix Garantie better).
Sources checked: .
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Frequently Asked Questions
Is Migros the cheapest?
No, but much more competitive after CHF 500M price cuts. M-Budget near discount level on many staples. Third in tests behind Lidl/Aldi.
Why doesn’t Migros sell alcohol?
Founder’s decision (1925), confirmed by 80% of cooperative members in 2022. Alcohol at Denner or Migros Online.
Is Cumulus worth it?
Yes. Free, 1% cashback plus personalised vouchers. But shouldn’t be the reason you choose the store.
Is M-Budget as cheap as Aldi?
On many staples yes (K-Tipp Aug 2025). But not always in stock in smaller stores.