PROSPECTS AND OPPORTUNITIES
Increasing preference for online purchases will temper expansion in value terms
Home products specialists looks set to post healthy growth in current value sales throughout the forecast period. With inflation having stabilised and the medium-term outlook for the Hungarian economy remaining generally positive, trade in home improvement and gardening stores and homewares and home furnishing stores should be lifted by increased residential construction activity.
Declining trend in outlet numbers set to persist
The total number of home products specialists outlets in Hungary is expected to continue declining steadily over the forecast period. This will be mainly due to the closure of more independent stores, which have been hardest hit by rising costs in recent years and are increasingly losing ground to large chained operators that can offer much wider assortments and considerably lower prices.
Government housing subsidies expected to remain a key demand driver
Various types of subsidies and state-backed loans for families seeking to buy their first homes and existing homeowners who want to upgrade their properties will continue to have a positive impact on trade in the home improvement and gardening stores and homewares and home furnishing stores channels over the forecast period. For example, both are expected to benefit from the recently launched Rural Home Renovation Programme, which is scheduled to run until the end of 2027.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products 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 Home Products 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 Home Products 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 Home Products Specialists in Hungary?
- Which are the leading retailers in Home Products 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?
Home Products Specialists in Hungary - Category analysis
KEY DATA FINDINGS
Current value sales remain in negative territory despite improved trading conditions
Pet shops and superstores is the best performing channel
IKEA expands its mobile click and collect service to 15 new locations
Increasing preference for online purchases will temper expansion in value terms
Declining trend in outlet numbers set to persist
Government housing subsidies expected to remain a key demand driver
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:
Home Products Specialists
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
Home Products Specialists
The aggregation of home improvement and gardening stores, homewares and home furnishing stores, and pet shops and superstores.
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 Home Products Specialists research and analysis database.
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