Insights into the growth of Hungarian eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Digital User Insights
There are currently 5.85 million eCommerce users in Hungary, with an additional 1.04 million users expected to be shopping online by 2022. Four years from now, these 6.89 million eCommerce users will spend an average of 375.44 USD online.
Dividing internet usage into age groups gives a better picture of the Hungarian eCommerce market – 94% of 16-24 year olds, 97% of 25-34 year-olds and 86% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 82% and 71% daily penetration rate, respectively.
Total Hungarian eCommerce revenue across all product categories is 1.86 billion USD, and is expected to grow to 2.59 billion USD by 2021. Fashion is currently the leading product category in Hungary, accounting for 494.4 million USD market share, followed by Electronics & Media, which generates 474 million USD in sales.
By 2022, Fashion will still be the most purchased online category, with an estimated value of 700.5 million USD, and second favorite, Toys, Hobby and DIY, will have an expected worth of 627.6 million USD.
In 2016, Hungary was ranked 31st in the World Bank Logistics ranking.
Preferred Online Payments
64% of Hungarian shoppers like to pay cash on delivery when shopping online.
Where does Hungary buy from?
Germany supplies Hungary with 25.4 billion USD in imports – ranging from engine parts to cars. Hungary's other key import partners are China ($5.42 billion), Poland ($5.18 billion), Italy ($4.86 billion) and the Czech Republic ($4.66 billion).
Internet and Device Usage
Internet penetration in Hungary is currently 76.4%, and should reach 78.9% by 2022. Smartphone penetration is much less (54.7%), but is projected to grow to 62.1% in the next four years.
87% of online shoppers in Hungary buy via desktop, a stark contrast to the amount of smartphone (5%) and tablet (2%) shoppers.
In 2017, 213.83 million USD of Hungary's ad spend was spent on TV advertising.
5.08 million Hungarians are active social network users, thanks to Facebook, Pinterest, Twitter and Tumblr, which are the leading social networks.