The annual sales of users of the Hungarian Product trademark exceeded expectations

By: Trademagazin Date: 2023. 10. 25. 15:16

As a result of the economic developments of the last period, the price sensitivity of domestic consumers rose to a higher level than before. This trend will definitely continue for some time. As a result, customers are choosing more and more carefully and consciously, thanks to which goods with the Hungarian Product trademark, which attests to reliable domestic origin, have become more sought after. In this way, the manufacturers of products bearing trademarks also represent an increasingly serious economic weight: their recently updated total sales revenue for last year has now approached HUF 4,000 billion, which far surpasses even the previous expectations at the beginning of the year.

The domestic FMCG and trade sector has perhaps never experienced as many changes as in the past few years. Consumer price sensitivity is very strong, customers look at what and how much they spend. Domestic manufacturers should not ignore this, so in order for their products to remain competitive against foreign imports, they must keep up not only in terms of quality, but also in terms of value for money.

According to surveys, nearly 64% of the population is burdened by inflation and the rise in utilities, so more and more people are forced to give up buying certain previously well-accustomed brands. But what exactly do the latest surveys and domestic and international consumer trends show?

“The two most prominent global consumer megatrends of our time are based on sustainability and digitalization aspects. While the latter is closely related to the widest possible range of goods and the demand for extra-fast food replacement or the production of functional foods, the topic of sustainability focuses on, among other things, health awareness, the origin and originality of the products, and the human stories behind them. However, the above-mentioned trends are clearly overridden nowadays by inflation, which has the strongest influence on the consumer environment. Thus, rational thinking came to the fore in households, one of the tangible proofs of which is customer price sensitivity.”

– said Prof. Dr. Mária Törőcsik, university professor and consumer behavior analyst.