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Domestic E-Commerce Characterized by Growing Competition

• 27 Jul 2021 12:20 PM
• Budapest Business Journal

Domestic e-commerce has been characterized by increasing competition from year to year, which has progressed three times in one year due to the changed consumer habits from the coronavirus epidemic, writes profitline.hu.

According to the marketing manager of an agency in Budapest specializing in web stores, predictability has returned to the Hungarian online sector.

Last year brought amazing growth, with 80% of web stores significantly increasing their revenue, and most able to improve their profit rates as well.

The year 2020 resulted in an annual growth rate of approximately 45%, almost three times the preliminary expectations.

The number of active buyers increased slightly, while the order frequency and average order value increased significantly.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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