Katalin Neubauer: We hope that retail can now return to the old, pre-Covid way of funkctioning
In March 2023, the Hungarian retail sector showed promising signs of recovery, as highlighted by Katalin Neubauer, Secretary-General of the Hungarian National Trade Association, in her statement to InfoRadio. Neubauer noted an increase in consumer interest, signaling a potential return to pre-Covid conditions.
Statistics reflect this improvement with the retail sales volume in March increasing by 3.6% in raw data and 4.2% when adjusted for calendar effects, compared to the same period last year. The largest growth was seen in food and mixed retail stores, with a 5.7% increase, while fuel retail grew by 3.3%, and non-food retail saw a modest rise of 0.6%.
Despite these encouraging figures, Neubauer cautioned that they might be misleading due to the low base effect from last year’s significant downturns, especially in the food sector. She remains hopeful that the retail sector will gradually regain its strength, particularly if government actions lead to reduced fuel prices, potentially boosting fuel retail sales further. After recovering in 2021, the challenges of 2023 have been significant, but the sector appears ready for continued growth.
This trend offers hope that Hungarian retail can maintain its growth trajectory and fully recover to the dynamism characteristic of the pre-pandemic period.
Related news
MBH quick analysis: Retail trade momentum decreased in May
After Easter spending, retail sales growth slowed in May: total…
Read more >K&H Analyst Commentary: Retail awaits greater momentum
May was quite bad in stores, especially in food stores,…
Read more >NGM: the government will do everything to further increase retail turnover
The government is working tirelessly to ensure that families can…
Read more >Related news
Carrefour launches its first AI-based solution in Spain
French retail chain Carrefour has chosen Spain to implement its…
Read more >Gösser Spritz display from Hungary wins two POP world titles
This year a Hungarian Gösser Spritz display – the winner…
Read more >Valeo Foods Group buys Italian panettone maker Melegatti 1894
The acquisition is the second Valeo Foods Group has announced…
Read more >