Subscription e-commerce is about to explode in Hungary

By: Trademagazin Date: 2024. 03. 13. 11:20

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According to industry forecasts(1), the subscription model of global e-commerce will expand by more than 50 percent annually, while in Hungary even greater growth is possible due to the low penetration. Exploiting the trend is critical to increasing the competitiveness of the domestic e-commerce sector.

With the support of Shoprenter and Humanize, Visa, Shoprenter and Humanize are launching a pioneering initiative called the Customer Subscription Program to promote the spread of the subscription business model in Hungary, announced Máté Rab, Shoprenter’s managing director.

The domestic e-commerce market faces a number of challenges: according to KSH data, traffic increased by only three percent in 2023. An even greater difficulty is that domestic online stores have been shrinking for years, mainly regional and global players have been able to carve out an ever-larger slice of the market. On the other hand, subscription e-commerce offers an opportunity to increase competitiveness, with its significant growth potential.

The goal of the Customer Subscription Program is to accelerate this development in Hungary as well, by providing support to businesses in the introduction of the subscription model. Through online and offline events, the program introduces you to the good practice of creating and operating a subscription service.