Chinese Companies Dominating Domestic E-commerce Market
Photo by Ivan Kruk / Shutterstock.com
Temu and other Chinese e-commerce companies dominate the Hungarian and European markets, Norbert Madar, GKI Digital's senior consultant, said at the 11th Hungarian Marketing Festival, according to business daily Világgazdaság.
The international spread of e-commerce has reached the stage where borders no longer matter to companies, he said. Chinese companies appearing on the Hungarian market, such as Temu, have such a dominant position that Hungarian e-retailers cannot compete with. And Temu increasingly dominates the domestic market.
Madar said that in 2023, e-commerce in Hungary could show only 7-8% growth, while parcel delivery increased by more than 60%.
According to the expert, this can be explained by the expansion of Temu and Shien.
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