E-commerce in Hungary is growing steadily in recent years. Domestic online retail turnover reached €2,3 billion in 2019 and may exceed €4,9 billion by 2024 with the most popular category being clothes/shoes/bags, while the category with the largest online traffic being computer technology. Hungarians prefer courier services and payment on delivery, which is a form of payment mostly known in Eastern-European countries.
The Covid-19 pandemic increased online demand in most product categories, made cashless payment solutions more popular, while the need for contactless delivery has arisen. While many people will return to in-store shopping once the pandemic is over, e-commerce has strengthened compared to the pre-epidemic era.
If you want to enter the Hungarian market from abroad, you must reckon with cultural differences. Hungarian people prefer websites and customer service in their own language, they are price sensitive, and expect payment methods like cash on delivery to be available. Also, strict consumer protection regulations are in place which can be difficult to comply with.
Reacty Digital can help market entry with insights about the Hungarian culture as well as data about the market based on various regular and ad hoc research. We can also help you connect with companies in Hungary whether you are looking for logistics firms, webshops, webshop developers, marketing agencies or payment companies.
For more details please see the presentation below or contact us via email or phone.
When entering a market in a different country it is always important to collect relevant data about the market and the potential target group, while also considering cultural differences. Róbert Pintér, business development director of Reacty Digital gave a presentation on March 31, 2021 about the most important numbers and e-commerce trends that a company should take into account before entering the Hungarian market.