ADVERTISEMENT

Toy stores gear up for busy Easter period

Telco

pexels

Toy stores expect record revenues this year in the Easter period, according to distributors. Although web store revenues are growing, most parents are still buying Easter presents in traditional stores.

This year customers will probably spend around HUF 4,000-5,000 on average during Easter, while those shopping via web stores can be expected to spend around HUF 9,000, János Borhi, CEO of toy distributor Formatex, told business daily Világgazdaság.

Last year Formatex had total revenues of HUF 4.4 billion, of which 15% were generated in the pre-Easter period. This year wholesale revenues of Formatex are expected to be 15-20% higher, while retail sales growth in the Játéksziget stores owned by the company is estimated at 8%, Borhi said.

Total turnover last year of the Hungarian toy market, according to preliminary estimates, reached HUF 45 bln, following a 4% growth, with Formatex ranking third, after Lego and Regio Játék, both with HUF 10 bln. Other players with revenues above HUF 1 bln were Mattel, Modell & Hobby, Simba and Piatnik.

As for web stores, some 259 companies in Hungary are active on the toy retail market and 196 produce toys, with a total headcount of over 4,800 employees, Világgazdaság noted.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.