Ecommerce in Hungary was worth €1.65 billion in 2017
For the first time, the ecommerce turnover of Hungary has surpassed the psychological limit of 500 billion Hungarian forints. Ecommerce in Hungary was worth 545 billion forints, or 1.65 billion euros, last year.
In 10 years time, the domestic ecommerce revenue in Hungary grew from about 140 million euros to 1.65 billion euros now. These numbers were revealed by eNet during the Ecommerce Hungary conference.
The nearly 1000 billion forint in this chart consists of the domestic turnover of Hungarian webshops + the turnover of foreign online shops generated by Hungarian consumers
Last year, ecommerce in Hungary showed significant growth: online sales grew 27 percent compared to the previous year. The online share in retail is also increasing, with 6.2 percent of total retail sales that were made online last year.
In Hungary, the product categories ICT, consumer electronics, clothing and sportswear, toys and gifts and home appliances are the ones that generated the most online traffic.
Cash on delivery popular payment method in Hungary
Most online stores in Hungary offer the option to have parcels delivered by courier and enables customers to pay cash on delivery. About three in four online orders (73 percent) in this Eastern European country was delivered by a courier service. And most of the online orders (47 percent) were paid by cash on delivery.
Cross-border shopping in Hungary
Since 2015, about 900,000 people have been added to the list of online shoppers in Hungary, with 300,000 in the past year alone. Online shoppers in Hungary don’t only prefer domestic web shops, foreign online stores are attracting more and more visitors from Hungary. Since 2015, the number of Hungarian consumers buying abroad has risen from 1.5 million to 2.7 million.
For the first time, eNet has estimated what Hungarian consumers could spend at foreign online stores. Last year, Hungarian shoppers spent approximately 1.21 billion euros at foreign ecommerce websites, which is close to the total domestic ecommerce turnover of 2016.