The food retail market is oversaturated

According to the analysis of the Hungarian Chamber of Commerce and Industry (MKIK), the food retail market is oversaturated in Hungary, so an average of more than 50 business closes a day.

According to the data of the Chamber, 16,098 new food stores were opened in 2013, and 20 874 stores were closed, while in the first half of 2014, 7899 nw stores were opened and 9462 were closed. The public body estimates that in the future it is expected that a huge number of commercial food shops will be closed, which affects both domestic and multinational chains and retailers. (MTI)