lh x cw market report A4_23.03.02 v34 interactive72

Brick-and-mortar stores still dominate the market, to the extent that, even with the acceleration of online sales, they account for more than 90% of retail sales. Online sales have grown significantly during the pandemic, with their share jumping from 6% in 2019 to 9% by the end of 2022, corresponding to a growth rate of 45% in 2020 and 18% in 2021. However, it fell by 2% last year, so we expect the pace of online growth to return to pre-pandemic levels, taking a slice of total retail sales to around 15% by the end of 2025. Hungary continues to attract international new entrants. In 2021, ten brands made their debut, such as Bonami, a Czech interior design and furniture brand, which opened its first store in Arena Mall, and HalfPrice, part of the CCC Group, which opened in Vörösmarty 1. In 2022, four new brands arrived, such as the Romanian fast food chain Mesopotamia, which opened units in Westend, Intimissimi Uomo, which opened in Fashion Street, and JD Sports, which opened in Árkád shopping centre.

HUNGARIAN RETAIL STOCK STRUCTURE

25%

SHARE OF ONLINE SALES FROM TOTAL (%) Source: GlobalData

Czech Republic

20%

Germany Hungary

15%

Poland

10%

Romania

5%

0%

2011

2017

2012

2013

2015

2018

2019

2016

2014

2010

2007

2020

2008

2009

2006

2021 F

2023 F

2022 F

2024 F