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Retail

Retail Turnover Sees Double Digit Decline In Hungary

Retail turnover fell by 10.2% in Hungary in April, compared to the same period the previous year, mainly due to the impact of coronavirus, according to data from OKSZ, the Hungarian national trade association.

The drop in sales was largely driven by declines in the non-food (-14.8%) and fuel (-26.3%) channels, however the food and grocery channel also posted a marginal decline for the month, of 0.4%.

The group said that a total of HUF 910 billion was recorded in the Hungarian retail sector in April, of which food and grocery retail accounted for 53%.

Notably, e-commerce and internet retailing recorded a 104% increase for the period, and accounted for 12.5% of overall retail sales in April.

Year To Date

Looking at the period from January to April 2020, however, adjusted for calendar effects, retail turnover was up 2.5%, according to OKSZ.

In the food and grocery sector, sales were up 7.0% over the four-month period, while non-food retail was up 1.8% and fuel retail grew by 10.6%.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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