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Hungarians Are Less And Less Fond Of Online Shopping

• 23 Dec 2021 10:15 AM

The growth rate of web purchases has slowed down, half of what it used to be. 10-12 percent of shop-related spending is online. For the third year in a row, the share of foreign online store purchases is 40 percent of the nearly two thousand billion forints of total money spent online.

Shoppers rushed to the shops on the weekend before Christmas. Before that in October 2021, domestic online store spending in the world of products (food, manufactured goods) jumped by 12 percent, and between January and October by 22 percent (in volume).

This, however, is a more modest pace than the 30-40 percent experienced in previous years. The market slice is larger, of course, so the slower pace is still good, but the result is curbed web shopping growth and lower speed.

Of course, almost everything is available on the web, not only stores' merchandise (food, manufactured goods) but also, for example, pizza, cinema tickets, accommodation, a range of services - as stated by the trade magazine, blokkk.com. Thus, the value of full-scale web purchases is much higher than the stores' range of goods, as shown by the MNB's cash flow and bank card payment data.

The number of web purchases approached 100 million among domestic web stores in 2020 and reached around 85 million in the first three quarters of 2021. Hungarians also purchased from foreign online stores, processing 85 million transactions in 2020 and 63 million in the first nine months of 2021.

Foreign webshop spending has been hovering around 40 percent of total web spending for the third year in a row. Although deliveries are stagnant, transport is expensive, and the forint is weak, that proportion hasn't changed.
 

Source: Napi.hu

Article translated by Szilvia Molnár, a professional freelance writer, travel expert, mom of two, and admitted coffee addict. Though not necessarily in that order. Connect with her on LinkedIn or read about her latest travel experiences on the Exploration Lounge website.

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