Retail took a step forward in 2016

By: Trademagazin editor Date: 2017. 06. 01. 15:04

In 2016 retail sales grew by 4.7 percent – reported the Central Statistical Office (KSH). FMCG sales rose by almost 3 percent, sales of high-value consumer goods improved by 5 percent and clothes sales soared by 10 percent. Online shops saw their sales increase by almost 30 percent. Total retail sales amounted to HUF 9,659 billion and from this the value of FMCG sales was HUF 3,294 billion.

Behind retail’s good performance last year we find the country’s economic growth, government measures helping families, VAT cuts and the low level of inflation. Gross monthly wages were up more than 6 percent last year. In many cases retailers increased the salary of employees by two-digit numbers. It must also be mentioned that retail trade was a bit surprised by the government’s decision to abolish the ban on Sunday trading in April 2016.

One of the retail sector’s problems is the difficult situation of small enterprises. In 2016 about 3,000 points of sale disappeared. The goal of the National Trade Association (OKSZ) is to give help to small businesses in the sector, with information and funding via grants. OKSZ makes great efforts to cooperate with the government and control authorities in order to ease the tension in the dairy, fruit and vegetable markets. //