PROSPECTS AND OPPORTUNITIES
Polarisation likely to become more entrenched
Apparel and footwear specialists is projected to record consistently robust growth in current value terms over the forecast period. Trade should remain buoyant as consumer sentiment and disposable incomes continue to increase in line with further improvements in the macroeconomic climate in Hungary.
Omnichannel strategies and sustainability initiatives will be key areas for investment
With Hungarians increasingly willing to buy clothes, shoes and related products online, apparel and footwear specialists will continue to invest heavily in omnichannel strategies over the forecast period. Larger chains will remain to the fore in this regard, with more of these players expected to focus on transforming outlets into experiential hubs that are not only locations for direct sales, but also serve as showrooms where consumers can browse assortments in person and try on different items before making purchases from their e-commerce platforms at a later time.
Focus on designer products could offer growth opportunities for independent stores
Small boutiques offering unique, handcrafted products from local designers have traditionally occupied an important niche in apparel and footwear specialists in Hungary. Such outlets have faced difficult trading conditions over recent years due to the cost-of-living squeeze and the threat from fast fashion chains with more competitive pricing policies.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Apparel and Footwear Specialists in Hungary report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel and Footwear Specialists in Hungary?
- Which are the leading retailers in Apparel and Footwear Specialists in Hungary?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Apparel and Footwear Specialists in Hungary - Category analysis
KEY DATA FINDINGS
Trade picks up as inflation recedes but outlet numbers continue to fall
Primark opens its first store in Hungary
Growing demand for second-hand products restricts value growth potential
Polarisation likely to become more entrenched
Omnichannel strategies and sustainability initiatives will be key areas for investment
Focus on designer products could offer growth opportunities for independent stores
Retail in Hungary - Industry Overview
Retail in 2024: The big picture
Special retail tax continues to take a toll on large multinational chains
Sustainability concerns remain influential as new deposit return scheme is launched
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Black Friday
Christmas
Back-to-school
DISCLAIMER
Apparel and Footwear Specialists
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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