The OKSZ is optimistic about the introduction of mandatory promotions

By: Trademagazin Date: 2024. 07. 02. 13:23

Since the first of July, mandatory store promotions, which had been a prescribed practice for retailers for certain products, have been abolished in Hungary. At the same time, the last remnants of the price caps disappeared, based on which traders had to sell the designated basic foodstuffs at or below the purchase price in the past year. As a result of the changes, it is expected that the price of some products will increase, while new promotions may appear for others.

Tamás Kozák, Secretary General of the National Trade Association (OKSZ), gave Telex an optimistic picture regarding the introduction of mandatory in-store promotions. He pointed out that traders can now return to normal trading practices, which will allow them to be more responsive to market demand and supply. According to Kozák, this means that although there will still be promotions, they will be much more adapted to the current market situation than before.

Kozák added that due to the previous regulations on mandatory sales, traders were previously limited in which products they could offer and at what price. The current change provides retailers with the opportunity to carry out more targeted promotions that are tailored to the needs of consumers. As a result, the market can become much more dynamic and competitive, which also serves the interests of consumers in the long run.

The Secretary General also spoke about the positive impact of the withdrawal on Hungarian suppliers. A more stable and predictable commercial environment facilitates the establishment of long-term cooperation, which can strengthen the market position of domestic enterprises. This kind of predictability can also help retailers manage their costs more efficiently and optimize their offerings.