Dr. Tamás Kozák: the retail tax took away the profit of the shops

By: Trademagazin Date: 2024. 04. 11. 12:20

The new general secretary of the National Trade Association (OKSZ), Dr. Tamás Kozák, participated for the first time as a professional speaker at the Pénzcentrum RETAIL DAY 2024 conference. In his presentation presented at the event, Dr. Kozák spoke about the current situation and changes in trade, highlighting the importance of economic trends and the transformation of consumer habits.

According to Dr. Tamás Kozák, increasing impoverishment and growing income inequality in Hungary pose a challenge to the retail sector. The incomes of the bottom and top 20 percent of society are getting further apart, which is also reflected in the increase in spending on food. The secretary general of the OKSZ emphasized that this trend indicates the strengthening of impoverishment and requires special attention from the decision-makers.

The evolution of the profit level of the retail sector also faces serious challenges. According to Dr. Kozák, the retail tax practically took away the profit, which is around 2-3% in the sector. Rising prices and shrinking margins further complicate the situation for retailers, and mid-range businesses become the bearers of profits.