Hungary - Country Commercial Guide

Describes what a company needs to know to take advantage of e-commerce in the local market and covers prominent B2B websites.

Last published date: 2022-11-25

Citing the boost e-commerce could give Hungary’s productivity and innovation, the Hungarian Government continues to place a high priority on advancing this sector.  E-commerce had a slow start in Hungary but has been booming in recent years.  The most developed segment is E-banking.  Even though, in previous years, the new online shopper growth rate had slowed down, the Covid-19 pandemic has led to a significant growth in e-commerce.  E-commerce in Hungary is expected to have a USD 2.04 billion total turnover in 2020, representing 6.2% of the total retail trade.  Revenue is expected to show an annual growth rate of 7.3%, resulting in a market volume of USD 2.706 billion by 2023.  Online retail and web-shop concepts have been growing steadily since 2010.  According to Eurostat data, around 62% of Hungarians shopped online in 2018, a figure which remains below the EU average of 69%.  Products purchased most frequently online include books, coupons, IT and electronic gadgets, insurance services, e-tickets, and holiday reservations.  More than 70% of orders included home delivery, and most Hungarian online shoppers prefer cash payment upon delivery.  Both males and females use online retailing equally.  Most e-commerce revenue, nearly 40%, is generated in the last two months of the year before the holidays (Black Friday and Christmas).

In addition, the average value of the online shopping cart is higher than that of traditional purchases.  The average cart size increased from HUF 7,500 (USD 27) to HUF 11,600 (USD 42) during the last five years.  The average revenue per user per year currently amounts to USD 300.70.  Online customers are more inclined to spend a bigger sum in one go. 

The biggest player in the Hungarian eCommerce Market is The store had a revenue of USD 150 million in 2021. USD 128 million in 2020. It is followed by with USD 95 million revenue and with USD 88 million revenue. Altogether, the top three stores account for 20% of online revenue in in Hungary.