PROSPECTS AND OPPORTUNITIES
Convenience and affordability of variety stores will continue to win over shoppers
Although growth looks set to fall below that recorded over 2019-2024 due to encroaching maturity and a more stable inflationary environment, variety stores is predicted to expand at a healthy pace in current value terms throughout the forecast period. Diverse assortments and comparatively low prices will ensure the channel remains well placed to tap into the increasing preference for more convenient one-stop shopping experiences among Hungarians and heightened budget-consciousness resulting from the ongoing cost-of-living squeeze.
Department stores likely to remain absent from the Hungarian retail landscape
Hungary is not expected to witness the reappearance of department stores over the forecast period. Retail groups and developers see the format as having poor growth prospects due to the prevalence of shopping malls and major grocery retailers and non-grocery specialists chains, which are better placed to meet consumer demands for variety in terms of assortments and pricing.
Chained operators expected to witness strong growth in online sales
Variety stores chains should continue to see trade via their e-commerce platforms rise at a robust pace over the forecast period. With changes brought about by the pandemic having made Hungarians more comfortable with online shopping and increased appreciation for the convenience, extensive range of choices and potential for better price deals it affords, most of these players have focused on strengthening their digital sales and marketing capabilities in recent years.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores in Hungary?
- Which are the leading retailers in General Merchandise Stores 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?
General Merchandise Stores in Hungary - Category analysis
KEY DATA FINDINGS
Variety stores continue to perform strongly
Department stores remains a non-existent channel in Hungary
Ecofamily further consolidates its already dominant position in value terms
Convenience and affordability of variety stores will continue to win over shoppers
Department stores likely to remain absent from the Hungarian retail landscape
Chained operators expected to witness strong growth in online sales
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
The following categories and subcategories are included:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
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 General Merchandise Stores research and analysis database.
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