Domestic online retail turnover in Hungary reached HUF 781 billion in 2019, which translates to €2.2 billion. This is an increase of 17% compared to the previous year, according to eNET Internet Research. The turnover of domestic e-commerce in Hungary may exceed €4.9 billion by 2024.
The frequency of domestic online purchases has been growing steadily for years, with accommodation booking being the most popular product and service category. In addition, shoppers are getting more conscious of choosing delivery and payment methods.
Largest product categories
The largest product categories with online traffic are ICT, clothing & sportswear, and consumer electronics in Hungary. The highest shopping cart value can be found in the construction and renovation category, while the lowest is observed in online food ordering.
The COVID-19 outbreak has had some effects on the economy within Hungary. Retail sales growth is expected to decrease because of the COVID-19 outbreak. On the other hand, e-commerce will experience a historic chance. With some branches booming, they are expected to stabilize at a higher level than before.
Hungarians are buying online more often
Nine out of ten Hungarians, aged between 18-79, have already bought a product or service online. In recent years, the proportion of buyers on a weekly or monthly basis has been increasing. In most cases, these are low-value orders and as the value increases, the frequency of purchases decreases. Convenience and affordability have been important factors for online shopping in Hungary. However, this year the role of security has also increased significantly due to the pandemic.
Most popular product categories
The most popular product categories purchased online in Hungary are clothing (57%), ICT (56%), and toys and gifts (52%). Among the services purchased online, accommodation booking stands out (60%), followed by tickets (cinema and exhibitions) (44%) and insurance (37%). The number of product categories ordered online is also increasing, with the average customer having already purchased from seven product groups at least once in their lifetime.