Every 5th Hungarian Planning to Upgrade Appliances in 2022

Analysis

Rising utility prices and inflation are having a major impact on end-of-year spending this year, and this is also the case for the upcoming Black Friday, when Hungarians are planning to invest in energy-efficient appliances primarily for the long term, according to a recent representative survey by MediaMarkt.

Planning Ahead, Upgrading This Year's Mantra

In view of the current utility prices, the energy-saving spirit is also reflected in shopping habits, as confirmed by a recent survey commissioned by MediaMarkt, which shows that 75% of Hungarian consumers' shopping decisions for the coming period are influenced by the current rise in utility costs.

The research showed that during the upcoming promotions, consumers are primarily looking for technical products that they can consider as an investment: 20% of those surveyed plan to replace outdated, old appliances or would buy energy-saving household appliances and equipment in the first place.

As a previous survey by the technology retail chain showed, energy rating has become an important consideration when making purchases. The energy label is also a key factor for the upcoming Black Friday, according to a fifth of respondents who plan to buy energy-efficient large household appliances (refrigerators, washing machines, freezers, dishwashers) with a higher energy rating. This is mainly considered by the over-40s.

IT equipment for working and studying at home is second on the list of planned purchases, with 16% of respondents planning to buy a laptop, PC, keyboard, or other IT accessory in the near future. Unsurprisingly, this product group was mainly identified by those aged under 39. This is followed by the category of small kitchen appliances (14%), then mobile phones and smartphones (13%), and energy-saving cooking and baking appliances (13%).

"We expect interest in electronics products to continue to grow in the current market situation until Christmas. Looking at product categories, we expect TVs, smartphones, as well as smaller smartwatches that can be gifted, smart bracelets, wireless headphones and earphones, and soundbars and party speakers, to see strong sales during our Black November promotional period," explained Gábor Szilágyi, managing director of MediaMarkt.

"On the other hand, we are indeed seeing a significant shift towards the purchase of more energy-efficient large appliances, people are more conscious of major investments, and they are planning and spending more thoughtfully for the long term," he added.

Black November Instead of Black Friday

The survey also looked at the general perception of the Hungarian public about one-day promotions, including Black Friday. While nearly one in ten Hungarians like and prepare for discount offers, nearly 30% of those surveyed are frustrated by the crowds and the potential slowdown of online shops. In addition, 16% of the population is also bothered by the relatively short timeframe for making a decision during one or just a few days of promotions, and feel that there is little time to prepare for a major purchase.

For the third time, MediaMarkt is offering discounts for a whole month as part of the so-called Black November, aiming to give shoppers a convenient shopping experience instead of a one-day or weekend frenzy.

"As every year, we are trying to provide priority logistics capacity for the November-December period, and to this end, we have started negotiations in good time to ensure that the handling of the increased volume of goods goes smoothly. We are adding a further 50% to our warehouse capacity for the season, which we expanded earlier in the year, to support calmer, more deliberate buying," said Pál Bakonyi, head of logistics at MediaMarkt.

The November sales series also helps many people with their Christmas shopping: according to the survey, more than a third of Hungarians would do their Christmas gift shopping this period if they saw a good offer.
 

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