Good news for customers: the price reduction has started in the technical market

By: Trademagazin Date: 2024. 02. 16. 11:56

According to Euronics, sales revenue and the number of purchases decreased in 2023 in parallel with the decline of retail traffic in Hungary, but the last quarter again brought good results and record growth for products ordered with online delivery. This year, Euronics expects a further decrease in inflation and a return of the desire to buy, which it supports with new store openings.

The technical market revived again in the last quarter

Although in 2023 the overall retail turnover in Hungary decreased in parallel with the increase in inflation, the increase in prices normalized in the technical market by the end of the year. What’s more, in the case of some product categories, compared to the base year, prices fell by up to 10% by November – this was the case, for example, in the segment of 40-43″ televisions and smartphones.

The month of November exceeded all expectations, as Euronics’ pre-Christmas sale, Blue Week, and the subsequent Black Friday period also brought outstanding results. During the November discounts, customers spent an average of 66% more during a purchase combined on the web and in the store than during the year in general.