Euronics ranks as biggest Hungarian-owned e-tail company in 2021
For the first time, GKID (formerly GKI Digital) ranked the largest domestically-owned online retailers in Hungary, with Euronics ranking highest, according to a press release sent to the Budapest Business Journal.
The company came in seventh on the general list of e-commerce firms in Hungary that includes foreign-owned companies as well.
Euronics' share of online revenues as a percentage of total sales more than doubled between 2018 and 2021. In the same period, it has improved five places in the GKID ranking and is now the largest Hungarian-owned company.
The chain's online order volume has also grown significantly over the past years, increasing by an average of around 40% year-on-year. The euronics.hu website had more than 2 million visitors during the March 2021 COVID lockdown, and the resulting growth in online traffic far exceeded even the results seen in the first weeks of the pandemic closures in spring 2020. This is one of the reasons why online sales accounted for 22% of last year's record sales of over EUR 70 billion for Vöröskő Kft., the sole domestic owner of Euronics stores.
In order to catch up with the big international e-tailers in the next couple of years and to be able to rank even higher on the list of the highest-selling Hungarian online shops in the future, Euronics launched a completely revamped webshop at the beginning of the year, the press release says. In addition, the company will soon be handing over its new automated warehouse base, which is designed to serve online purchases even more efficiently and quickly.
"We are very proud of our number one position on the list of Hungarian-owned webshops, and our intention is to maintain this position in the future and to reach at least the fifth place in the overall list. What the past period has shown more than ever is that in the retail and technical sectors it is absolutely true that the engine of growth is online traffic, and it is now natural that customers first look at our website for information about the options available, even if they end up buying in our store. That's why every single forint spent on these systems pays off many times over and very quickly", said Bálint Fazekas, chief commercial officer of Euronics.
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