Magazine: ‘The world has turned upside down’

Ákos Kozák (GfK) about the digitalisation process.

Ákos Kozák, managing director of GfK told at a press meeting in March that the shopping habits of Hungarians had started to change in 2011, this was the time when they began seeking experiences when spending money on products.Another important trend that prevails is that shoppers want to ‘feel at home’ in the world. He revealed that the average purchasing power in Hungary is EUR 6,600-6,700 per year, a bit less than the EU’s average.

Mr Kozák told that the digitalisation process is very likely to become a success story on the demand side, as by 2020 there will be 3.8 billion consumers who belong to the middle class – these consumers spend between USD 10 and 100 a day. In Hungary 74 percent of 15-59 year old internet users own smartphones. The majority of Hungarian internet users have already purchased something online, and 4 from 10 buy something off the internet monthly; they usually pay online too.

Which categories do Hungarians tend to buy online? 63 percent buy plane tickets, 61 percent get holidays this way and the popularity of online banking is also on the rise. Online’s share is the smallest in the FMCG sector. The managing director added that homes getting smarter – from a technological perspective that is – gives great momentum to market expansion. Last year the volume share of smart products was above 50 percent in Hungary. Sales of smart home solutions are expected to rise further in the near future.

Ákos Kozák told about the world of market research that it had turned upside down. New players have entered the market and there are consultants too. With the development of digital tools, GfK’s customers have also started doing a bit of market research work themselves. He stressed that the value of information and knowledge had increased. //