Its e-commerce may exceed €4.9 billion by 2024
E-commerce in Hungary was worth €2.2 billion last year, according to Ecommerce News. The domestic online retail turnover saw a 17% boost compared to 2019.
The report reveals that Information and Communications Technologies, apparel, and consumer electronics brought the largest online traffic in Hungary.
At the same time, the construction and renovation category had the highest shopping cart value, whereas online food ordering faced the lowest.
By the end of 2020, the domestic online retail turnover of Hungary will be worth around €2.7 billion. By 2024 it may increase up to €2.2 times thus exceeding €4.9 billion.
When it comes to shopping online, 45% of Hungarians prefer a cashless payment, mainly by credit card through a bank system. Although, cash on delivery is also still popular.
We’ve reported that a rise in consumer and commercial spending is expected to further drive card payments in South Korea.