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E-commerce saw explosive growth in 2020

Retail

Photo by Martchan / Shutterstock.com

An increasing number of surveys and studies support the argument that e-commerce has experienced explosive growth in 2020, writes profitline.hu.

A joint study by GKI Digital and Commodity Finder found that in 2020, e-commerce made three years' worth of revenue in a single year thanks to the coronavirus epidemic and the digital revolution. After a record 45% increase, domestic online retail turnover generated HUF 909 billion in turnover.

According to Szabolcs Nótin, the head of the Hungarian marketing automation software company Retargeting.Biz, the growth, although unbreakable, will slow somewhat in 2021 and the following years as the virus eases.

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