Good news for customers: the price reduction has started in the technical market
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.
Related news
Retail traffic and residential consumption may slowly recover
The development of retail sales and the recovery of household…
Read more >Heat and shopping frenzy: a wave of sales on the household appliances market
The long-lasting hot weather puts not only people to the…
Read more >Growing retail, falling SMEs: what can companies do?
A KSH adatai szerint az év első öt hónapjában javult…
Read more >Related news
Valeo Foods Completes Acquisition Of Appalaches Nature
Valeo Foods Group has completed the acquisition of Appalaches Nature,…
Read more >Carrefour grows in France and Brazil, lags behind in rest of Europe
Carrefour says it is rather pleased with its financial results…
Read more >Food and beverage innovation plunges nearly 50% since 2007: Mintel
The market research firm said about a quarter of items…
Read more >