Hungarian E-Commerce Volume Hits All-Time High
Hungary’s electronic retail sector once again boasted strong performance in 2014, reaching a HUF 273 billion (~ EUR 884 million) net turnover and continuing a long trend of growth, reveals the latest research conducted by eNET Internet Research Ltd amongst webshops. The net online turnover went up by a considerable 26% compared to 2013. This growth seems to have put the country’s e-tail sector on a track of even faster expansion, as more and more large international companies announce the opening of webshops in Hungary.
The sector’s share grew within the total domestic retail volume as well, from 3.1% in 2013 to 3.7% in 2014. The average cart size rose significantly, as well, exceeding the HUF 10,000 (~ EUR 32.4) psychological barrier in 2014.
Cash payment still unbeaten
Hungarian online shoppers still prefer cash when it comes to paying for goods ordered over the Internet. 65% choose to pay for a product once they have it in their hands and can be sure that they get what they pay.
The dominance of payment upon delivery also means that most of the products are delivered by couriers. Nevertheless, the popularity of delivery points where buyers can personally take over their parcels is expected to gradually increase in future. These include not only staffed stores operated by partners but also parcel dispenser machines, which have been mushrooming across the country.
Open doors – on Sundays, too
Due to a new legislation mainly physical shops have been closed on Sundays, but the webshop doors are still open wide. Though the majority of the e-commerce companies expects no turnover change due to the closing of physical shops on Sundays, 36% project obvious growth. The main advantage is that online shops can now entice away consumers who have so far spent their money offline only.