Hungarians Spend More, Buy Less at the Supermarket
Hungarians are spending more at the supermarket but taking home less as inflation stands over 20%, retail chains told news agency MTI.
The local unit of Tesco told MTI shoppers are now spending HUF 6,100 per visit, on average, up 15%, but taking home fewer products. Demand for house brands and cheaper products has risen, and sales made using the Tesco Club discount card have jumped 70%, it added.
Tesco said it expects customers to "carefully weigh" their purchases over the holidays.
Discount chain Penny said turnover increased 34% in October, while sales volume fell close to 10%. It added that the drop in volume slowed to 7.5% in the past four weeks, suggesting "the worst is over". The average purchase per visit is up 21%, as customers shop more frequently but buy less, Penny said.
Shopper demand for house brands and discounted products has increased, it added.
Auchan told MTI that cheaper products, house brands, and products for which prices are centrally regulated now account for a "significantly" bigger share of sales. Sales of those price-capped staples have risen "in the double digits", it added.
Spar said sales of house brands now account for around 30% of turnover, up from 25% earlier. Sales volume has fallen in all categories with the exception of products that address food intolerances, it added.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
