Fewer and fewer Hungarian companies are successful in e-commerce, but why?

By: Trademagazin Date: 2023. 11. 10. 12:20

Hungarian companies find it difficult to thrive in online trade, and in their efforts towards international sales, they need improvements in order to catch up with regional competitors, say the experts.

Hungarian e-commerce falls spectacularly short of the unfavorable export-import ratio for local companies. There are only three Hungarian companies among the top domestic e-retailers, while imports are almost 15 times higher than exports, indicating that local players are lagging behind their regional competitors.

The data show that in 2014 six domestic companies were on GKI Digital’s list of the largest e-retailers in Hungary, while in 2022 there were only three. This low number can be partly explained by the fact that the majority of enterprises operate with a domestic market focus and have limited margin mass. In addition, the development of their services has also fallen behind.