Hungarians spend HUF 2,900 per day in stores
Spending per capita is expected to grow further this year in retail stores, but this does not help small stores resist the expansion of hypermarkets in Hungary, a recent study released by the Central Statistical Office (KSH) shows.
Hungarian residents last year spent on average HUF 2,900 per day in retail stores, according to a 2017 study, released by the KSH, says business daily Világgazdaság. The highest amount per day was spent by residents of Budapest and surroundings, at HUF 3,900. The lowest spending was measured in the North-Eastern region, at HUF 2,200 per day.
The retail sector continues to grow: in May this year the turnover of retail stores was more then 7% higher year-on-year. Despite that, though, the number of stores is decreasing: while five years ago the rate of stores per 10,000 inhabitants was 146, last year it dropped to 129. However, the concentration varies greatly depending on the region, with 162 stores in Budapest compared to 107 in Pest county.
The figures also indicate that small stores are unable to keep pace with retail chains. Multinational chains not only have the advantage of more efficient logistics and supplies, but they also have more resources to raise salaries and pay the corresponding taxes and contributions. According to the latest KSH figures, 163 hypermarkets were operating in Hungary, more than 85% in the countryside.
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.