21st European Commerce Day: the market and politics sitting at the same table

This article is available for reading in Trade magazin 2025/12-2026.01

European Commerce Day: celebration and message

European Commerce Day was celebrated in the Crowne Plaza Hotel in Budapest, focusing on the strategic importance of domestic trade, the appreciation of those working in the sector and the importance of professional cooperation. Retail trade is one of the biggest employers in the Hungarian economy and a key pillar of the GDP.

János Eppel, president of VOSZ

The main patron of the event was Minister for National Economy Márton Nagy, and the professional patron was Bence Gerlaki, state secretary for tax affairs, consumer protection and trade. In his welcoming speech László Perlusz, VOSZ secretary general, host and moderator of the event emphasised: retail trade is also a community-building force, without which everyday life would be impossible. VOSZ president János Eppel opened the event and stressed the importance of cooperation and partnership within the profession. He thanked the sector’s employees, who contribute to the continuous supply of products and the maintenance of consumer confidence on a daily basis. The president underlined that the association’s most important tasks include providing professional and advocacy support to businesses, actively participating in shaping the legal environment and strengthening the conditions for fair competition.

Stable consumption, new momentum

In his welcoming speech László Pekó, president of the trade section of the Hungarian Chamber of Commerce and Industry emphasised: the responsible work of those employed in the sector also serves to ensure that products reach even the smallest villages on time every day. He added that it would be good if retail workers were celebrated not only on 5 November but every day.

László Pekó, president of the trade section of the Hungarian Chamber of Commerce

Speaking on behalf of the government, state secretary Bence Gerlaki named the protection of families, preserving jobs and suppressing inflation as the main goals of economic policy. He told that following the peak inflation rate of 25.7% in 2022, price hikes were reduced to 4.3% by 2025, resulting in stronger purchasing power and a resumption of consumption. Consumption has been growing steadily for 21 months now: in August 2025 retail sales were 2.4% higher than in the same period of the previous year, while employment rose to 75% and real wages grew by 9.2% in 2024. Digitalisation and the growth of the online market create new challenges. Online retail in Hungary is already worth HUF 2,000 billion, meaning that every 9-10 forints is spent online.

Bence Gerlaki, state secretary of Ministry of National Economy 

Is a common denominator emerging?

Next there was a roundtable discussion moderated by Dr Ákos Kozák, co-president of VOSZ and director of economic research at the Equilibrium Institute. The panel members were: László Krisán, president of the trade section of VOSZ, Dr Zoltán Zs. Szőke, president of ÁFEOSZ–COOP Association, Katalin Neubauer, secretary general of MNKSZ, Dr Tamás Kozák, secretary general of OKSZ and Attila Prosits, president of the Hungarian Council of Shopping Centres. Katalin Neubauer said the most pressing issue was the government extending the price margin freeze until 28 February 2026. In her opinion this puts supermarkets in a particularly hopeless situation. Dr Zoltán Zs. Szőke pointed out that Hungarian trade should be developed within the framework of its own economic and regulatory environment, rather than copying Western European models.

Participants of the roundtable discussion – left to right: dr. Ákos Kozák, dr. Tamás Kozák, László Krisán , dr. Zoltán Zs. Szőke, Katalin Neubauer and Attila Prosits – They discussed the future of Hungarian commerce, the predictability of the regulatory environment, and the possibilities for professional cooperation 

Attila Prosits outlined the situation of shopping centres. Since the Covid pandemic turnover has dropped by around 40%. In Hungary there have only been a few new market entrants, while in the Czech Republic the same number is thirty. Dr Tamás Kozák stressed that the profitability of commerce is declining, while changes introduced without professional consultation are increasingly common in the regulatory environment. According to László Krisán, the past 4-5 difficult years have left a deep mark on consumption. Shoppers are currently focused on replenishing their previous reserves and are more cautious due to the uncertainties surrounding the 2026 election year. At the end of the panel discussion participants agreed: the trade organisations will prepare a new national trade concept and submit it to the government.

Awards and winners

One of the most important events of the European Commerce Day is always the awards ceremony. Each year the awards call attention to those professionals and businesses whose work, exemplary conduct and strategic involvement significantly contribute to the development and functioning of Hungarian commerce. The message of the 21st European Commerce Day was clear: Hungarian retail trade has stabilised, but the key to the future lies in cooperation, innovation and digitalisation. Formulated in the spirit of partnership, the new concept could be one of the most important steps towards a sustainable future for commerce in the coming period.

Awardees of the 21st European Commerce Day – recipients of the Gábor Klauzál Certificate of Recognition and the Grand Prize for Hungarian Commerce in a group photo