GKI Digital: online retail business grew by 21.4 percent in the first quarter

By: Trademagazin editor Date: 2020. 05. 07. 11:45

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E-merchants fulfilled about 9.9 million domestic orders in the first quarter, with a gross value of 149.6 billion HUF, which represents an increase of 15.9 percent in the number of orders and a 21.4 percent increase in value, compared to the same period of the previous year. The appearance of the coronavirus also affected the results – according to GKI Digital’s recent online retail flash report.

They added that although a decline in purchasing power and an economic recession are expected in the second half of the year (during which Hungarian GDP may fall by around 3-7 percent by the end of the year), they expect only rearrangements in annual online traffic rather than drastic changes. It is believed that the increased online customer base and the increase in the number of order in the first two quarters could help online commerce keep pace with accelerating growth in the second half of the year, so the market is projected to grow this year by about 25 percent. (MTI)