Hungary online retail sales post double-digit growth

Hungary online retail sales post double-digit growth
By bne IntelliNews March 14, 2019

Online retail sales in Hungary grew 17% to HUF425bn (€1.3bn) last year, just a tad below the 18% annual growth in 2017, according to a joint survey by GKI Digital and Arukereso released on March 13. E-commerce in Hungary accounted for 4.5% of total retail sales turnover last year.

Online sales are growing at a pace three-fold that of retail sales. The number of active online shoppers reached 3.2mn and the average transaction value exceeded HUF11,000, up from HUF10,000 a year earlier, GKI said.

The survey shows Hungarian shoppers placed 38mn orders to domestic e-retailers, up 13% from a year earlier. Each shopper ordered products online 12 times, on average, 7% more than in the previous year.

Annual average spending came close to HUF133,000. Almost 80% of total online sales in Hungary are generated at companies which also have a brick-and-mortar business. In value terms, sales of consumer electronics generated the most turnover in online trade, followed by toys and cultural goods, computer technology, FMCG goods, fashion and sports, beauty and health, and home and gardening products. Cash transactions still accounted for almost 60% of total sales.

As in the previous three years, Extreme Digital was again Hungaryʼs biggest online retailer last year, according to an annual ranking by market research firm GKI Digital. 

Hungary's leading online electronics retailer is also present in eight other countries. The company's last public earnings figure showed revenues rose to HUF33.3bn in 2016 from HUF 29bn in 2016.