August traffic at MediaMarkt was variable

By: Trademagazin Date: 2023. 09. 05. 12:03

It wasn’t just expenses related to the start of school that kept families cold and hot in August. The changing weather also had an impact on the turnover of certain seasonal products, so there were also cases of early or missed purchases. In addition to the computer equipment and accessories typical at this time, the demand for coffee makers and e-scooters, and due to the heat at the end of summer, the demand for air conditioning equipment jumped at MediaMarkt. While last year at this time, customers were looking for products with the best price-value ratio, this year the balance is more in the direction of price, and consumers are primarily looking for budget-friendly offers, and the number of product loans taken out has also increased.

After the summer cucumber season, traffic has started again on the online and offline channels of Hungary’s largest technical store chain, but at the same time, the numbers point to conservative expectations for the company. The company closed a good year in 2022, but the disposable income of the population has decreased this year, so by the end of the year, despite the significant inflationary effect, they see a 1-digit decline in sales revenues as realistic, but even according to the most optimistic calculations, they can only bring in last year’s figures. Although the turnover in August is 8% lower than in the same period last year, according to the commercial manager of MediaMarkt, people are trying their hardest to get the necessary supplies for studying, which unfortunately is not helped by the fact that 0 percent loans have almost completely disappeared.

“Besides customers, traders are also in a difficult situation, as this year they are simultaneously faced with declining turnover, rising costs and the extra profit tax. Not all retailers have enough reserves to see them through this period. MediaMarkt is in a fortunate position from this point of view, thanks to which we have the opportunity to help our customers and pay attention to changing consumer needs. That’s why we introduced, for example, the deferred payment option for the start of school in addition to the installment payment”

– said Norbert Magyar, Commercial Director of Media Markt Hungary.