Chinese Companies Dominating Domestic E-commerce Market

Retail

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. 

ADVERTISEMENT

Insurers' Premiums Revenue Climbs 5% in 2023 Figures

Insurers' Premiums Revenue Climbs 5% in 2023

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Wider Margins Lift Magyar Telekom Earnings Telco

Wider Margins Lift Magyar Telekom Earnings

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.