Pepco, KiK, TEDi and Primark: serious competition is expected

According to the data of the Central Statistical Office, the total retail turnover in 2023 reached 18,411 billion forints, which means an increase of 7.85% compared to the previous year, although inflation shaded this picture. In particular, mixed stores of industrial goods nature, such as Pepco and KiK, only showed a slight expansion of 0.17 percent, reports Pénzcentrum.

Pepco: Maintaining market leader status

Pepco is still the market leader, according to the latest data, with net sales of HUF 95.47 billion, which is a 16.5% increase compared to the data of the previous business year. Although the profit after tax reached HUF 2.25 billion, it was not able to overtake KiK, which also showed a significant increase.

KiK: Effective improvement

With more than 120 stores, KiK achieved net domestic sales of HUF 34.64 billion, which is an increase of 20.1%. In terms of the after-tax result, it still managed to overtake Pepco, with a result of HUF 2.42 billion.

TEDi: the fresh competitor

TEDi, although a newcomer to the market, shows dynamic growth. The first stores opened in 2021, and they already operate 20 stores. In the last known business year, net sales increased more than sevenfold, although the profit after tax is still in the red.

Primark: a new challenger with ambitious plans

Primark is the newest player on the Hungarian market and is already making big plans. After opening their first store in Hungary, they are preparing for further expansion in Central and Eastern Europe. The company offers low prices, orders in bulk from suppliers, and uses simplified packaging, which achieves significant cost savings. The business model does not include online sales, thus saving additional costs.

The future of the Hungarian market

The increase in competition in the Hungarian retail market is beneficial for customers, as it can result in more choice and better prices. Both Pepco, KiK, TEDi and Primark can play a significant role in shaping future market dynamics. The coming years will show how these companies adapt to changing consumer needs and the economic environment in Hungary.