Domestic e-commerce characterized by growing competition
Domestic e-commerce has been characterized by increasing competition from year to year, which has progressed three times in one year due to the changed consumer habits from the coronavirus epidemic, writes profitline.hu.
According to the marketing manager of an agency in Budapest specializing in web stores, predictability has returned to the Hungarian online sector.
Last year brought amazing growth, with 80% of web stores significantly increasing their revenue, and most able to improve their profit rates as well. The year 2020 resulted in an annual growth rate of approximately 45%, almost three times the preliminary expectations.
The number of active buyers increased slightly, while the order frequency and average order value increased significantly.
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.