Hungary

The economic situation in Hungary is marked by higher interest rates and lower inflation in 2024, although price increases still remain prevalent in consumer electronics. Consumers are under pressure to prioritise essential products needed for…

The year 2023 marked the first complete year without any significant COVID-19 restrictions or social constraints. Locals compensated for the long absence of social gatherings, entertainment and events by spending more time outside of the house. This…

The high rate of inflation remained a topic of great concern to consumers and business owners in 2023, with Hungary recording one of the highest rates seen in the EU. Consumer foodservice outlets have been challenged with managing higher expenses for…

While consumer health in Hungary is set to post robust growth in total current value sales in 2023, this is primarily due to inflationary pressures fuelled by the global recovery from the pandemic, the fallout of Russia’s invasion of Ukraine and the…

The initial optimism of early 2022 was abruptly dampened by the end of the year, and this has persisted throughout 2023. The sharp rise in borrowing costs coupled with a decline in disposable incomes due to high inflation has compelled Hungarians to…

Convenience stores continued to be affected by price hikes in Hungary in 2023. Whilst inflationary pressures have had effects across retail, we see some specific spikes and falls.

Retail sales of cooking ingredients and meals in Hungary registered buoyant growth in current value terms in 2023. However, this was due to massive inflationary pressures, rather than any huge upturn in demand. With Hungary having been added to the…

Most cough, cold and allergy (hay fever) remedies categories in Hungary are set to expand in volume terms in 2023 or record slower rates of decline than in 2022. Similar to the case with analgesics, the need for these products has been bolstered by…

The loan repayment moratorium for vulnerable borrowers, including credit card owners, to cope with the negative economic consequences of the COVID-19 pandemic was extended to the end of 2022, but was not renewed in 2023. Meanwhile, high interest…

Dairy products and alternatives in Hungary is benefitting from a strong focus on health and wellness, and the introduction of new sizes and flavours, which helped to drive volume sales in 2024. However, challenges have arisen in the retail landscape…

With the merger of Takarékbank and MKB Bank, a new financial service provider was formed, MBH Bank. MBH Bank leads in the personal and commercial segments, including current accounts and debit cards, and is especially dominant in smaller towns and…

The Debrecen in Hungary report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital penetration,…

Hungary played host to the world’s first deodorant refilling stations in 2023. These new refill stations are designed to offer a more sustainable solution in the deodorants market. These stations work with Rossmann’s Isana private label line of…

In an effort to present better value and attract sales some manufacturers increased their pack sizes, as seen with 10+4 Gilette Blue and 10+5 Wilkinson Sword. However, these large packs do not always present the best value with smaller packs of four…

All dermatologicals categories in Hungary are expected to post negative results in volume terms in 2023, in most cases for the second year in a row. Although a number of different factors have depressed demand in individual categories, the overall…

Growth in dietary supplements current value sales in 2023 is expected to be slower than in 2022, while the vast majority of categories are set to contract in volume terms for a second consecutive year. With Hungary experiencing the highest inflation…

While digestive remedies is poised to post robust growth in total current value sales in 2023, this is mainly due to substantial price hikes amidst persistently high inflation in Hungary. All categories are set to contract in volume terms, in part…

Eastern Europe’s digital development continues as consumers increasingly embrace digital services. Consumers previously suspicious of the safety of online payments began to trust and value the convenience of fast and secure online payment methods as…

Direct selling saw a slump in Hungary in 2023, caused by a confluence of factors. Direct selling is mostly driven by beauty and personal care direct selling in Hungary, which had previously seen a rebound after the notable declines during the time of…

Discounters continued to be a big trend in Hungary in 2023, with three giants holding all share. Namely, Lidl (Lidl Magyarorszag Kereskedelmi Bt) holds over half of all brand share, followed by Aldi (Aldi Magyarország Élelmiszeripari Kereskedelmi Bt)…