GKID-Mastercard: e-commerce will continue to polarize in 2023
A half-yearly increase in turnover below inflation, an unceasing increase in order frequency, a stagnant domestic market and an invigorating import turnover characterize the first six months of this year’s online retailing, according to the GKID and Mastercard Digital Commerce Overview.
Based on the measurements of GKID and Mastercard, online retail reached a gross turnover of HUF 631 billion in the first half of the year, which means an increase of 8.8% compared to the same period of the previous year. While the turnover of online sales increased by 7.7% in the first quarter, and by 9.8% in the second quarter compared to last year. Although the growth in itself is encouraging, taking inflation into account, this expansion actually represents a decline for the sector in real terms. In addition, the change in the dealer mix also contributes to the growth:
“The growth of the Hungarian e-commerce market is currently mainly driven by foreign e-traders not operating in Hungary. The online traffic of domestic companies is rather on a stagnant or slightly decreasing track”
– assessed the reasons behind the growth of the market in the first half of the year, Norbert Madar, senior consultant and partner of GKID, which prepared the research.
Related news
Deliveroo to be acquired by DoorDash in £2.9bn deal
Deliveroo is to be acquired by US rival DoorDash in…
Read more >Allegro realises EUR 2.6bn sales in 2024
Sales by Polish online marketplace Allegro grew by 7% to…
Read more >Dark patterns are spreading in e-commerce – and official action against them is also more frequent
Urging, pressuring, hiding costs or “trickling” them – dark patterns…
Read more >Related news
New markdown limit in drugstores to come from May 19 – thousands of products could be affected
According to the announcement of the Minister of Chancellery Gergely…
Read more >Hungarian shoppers love prize games, according to a recent survey
Almost all Hungarian shoppers are willing to spend more if…
Read more >Sustainability at its best: the Respray refill machine has arrived at Rossmann for nationwide expansion
The world’s first spray product refilling machine, Respray, has grown…
Read more >