- Market attractivenessLogistically well-developed neighboring country, which offers Slovak online shops many opportunities for growth due to less competition.
- Proud nationHungarian customers prefer local online shops and like to pay attention to both reviews and price comparisons.
- Low costAdvantageous initial investment for expansion and for the actual operation of an online shop with a well-developed infrastructure.
Interesting facts about the Hungarian market
The expansion into Hungary has several other major advantages for us besides geographical proximity. However, the market is already seeing dynamic growth in online shopping via smartphones with cashless payments.
When localizing, however, one should not forget the specifics of the market, such as the necessity of listing prices in Hungarian forint, joining the popular price comparison site árukereső, or having a sufficient overview of the Hungarian competition, including the largest marketplace emag.hu. In addition to the complexity of Hungarian, it is also necessary to think about small things, such as writing first and last names in reverse order, or writing the date in the year-month-day format.
In addition, Hungary has one of the highest standard VAT rates in the EU. When expanding to our southern neighbors, our expansion specialists will be happy to advise you on how to avoid all the pitfalls and how to win over Hungarian customers. For example, they like to pay special attention to reviews before buying online, read extensive product descriptions with picture attachments, and make decisions based on prices or discounts offered.
- 10 mil.Residents
- 5,3 %Share of Online Sales
- 3 mld. €Turnover
- 4 300Number of Online Shops
- 17 %E-commerce Growth
- 27 %VAT