retail
March 01, 2010, 09:43 CET
Think tank GKI projects recession could end in Q1
Hungary's recession could end in the first quarter of 2010, although the economy will probably stagnate during the year, economic think tank GKI said in its latest projection prepared with the cooperation of Erste Bank. GKI projects industrial output will... [read complete entry]
February 24, 2010, 10:16 CET
Hungary retail sales drop slows to 7.4% in December
Retail sales volume in Hungary fell a calendar year-adjusted 7.4pc in December slowing from a 7.8pc decline in November, the Central Statistics Office (KSH) said on Wednesday. Twelve-month retail sales volume has dropped every month since February 2007. It fell... [read complete entry]
February 15, 2010, 10:42 CET
House brands share of food sales climbs to 23%
House brands generated 23pc of retail food turnover in 2009, up from 21pc in 2008, market researcher Nielsen told MTI. Sales of house brands reached HUF 300bn in 2009. Sales of house brand household chemicals and cosmetics came to more... [read complete entry]
February 10, 2010, 10:40 CET
Food retailer Coop to launch own credit card
The food retailer Coop Group, which owns 2,200 supermarkets across Hungary and operates a further 3,000 shops through its franchise programme, has set up Coop Hitel Zrt with registered capital of HUF 500m (EUR 1.83m) in order to allow shoppers... [read complete entry]
January 27, 2010, 10:30 CET
K&H Bank to start offering euro-based retail loans again
K and H Bank has decided to restart offering euro-based retail loans because of the gradual improvement in the macroeconomic environment, the introduction of stricter legal rules for household lending and the start of sector-wide self-regulation. Hungary's general government deficit... [read complete entry]
January 07, 2010, 01:54 CET
Competition office strikes blow for kiddies by axing axeless Indian girl carnival costumes
Fresh from a bumper year that saw an 800% increase in the forint value of fines it levied, Hungary's Competition Office (GVH) has raced into 2010 with its regulatory guns blazing. According to fn.hu, the GVH on Tuesday announced that... [read complete entry]
December 22, 2009, 09:53 CET
LCD TVs, netbooks and GPS locators most popular Hungarian gadget gifts for '09
Hungarians are buying LCD TVs, GPS machines and netbooks for their loved ones for Christmas, while demand for last year's favorite gift, game consoles, has fallen, writes IT news portal kutyu.hu, based on a top list compiled by depo.hu. "While... [read complete entry]
December 22, 2009, 09:38 CET
Váci utca rents again top Budapest retail market in CBRE survey
Rents on the northern part of Budapest's Váci utca are the most expensive in Hungary's retail market, writes vg.hu, based on a recent market analysis by CB Richard Ellis (CBRE). But with rates running at €60-€80 per square meter per... [read complete entry]
December 01, 2009, 10:47 CET
Economic crisis strengthens customer support for Hungarian products
A survey conducted by market researchers Sonda Ipsos has found that 52% of Hungarians choose Hungarian products if they can, 40% decide their choice based on the particular product in question and the remaining 8% are generally impartial about their... [read complete entry]
November 24, 2009, 09:12 CET
Hungarian consumers increasingly using bank cards, but cash remains king
While three or four years ago 85% of bank card transactions in Hungary involved withdrawals of cash from ATMs, in 2008 the percent of payment transactions reached 56%, an executive of the local unit of Raiffeisen Bank told napi.hu. According... [read complete entry]
November 24, 2009, 08:09 CET
Retail sales fall at yearly 7.3% in September
Retail sales volume in Hungary continued to fall at a sharp calendar year-adjusted real 7.3pc rate in September year-on-year, the Central Statistics Office (KSH) said on Monday. It fell 7.2pc yr/yr in August, and 6.6pc in July, after a moderate... [read complete entry]
November 19, 2009, 08:45 CET
Losses widen at Hungarian online retailer Bookline.hu
Hungarian online book company Bookline.hu sustained after-tax losses of HUF 178m (EUR 671,918) in the first three quarters of 2009, compared to after-tax losses of HUF 134m in Q1-Q3 of 2008 as expenses related to financial transactions more than tripled... [read complete entry]
November 17, 2009, 09:15 CET
Domestic grocery group CBA launches "soft discount" store chain
Grocery chain CBA is introducing a new kind of shop to the Hungarian market - the so-called soft discount store - with the first unit opened in Mogyoród in Pest County on November 12, reports mfor.hu. The 100% Hungarian-owned chain... [read complete entry]
November 16, 2009, 08:10 CET
Retailers brace for very un-merry Christmas
Local retailers expect that Hungarians will buy fewer and cheaper products during this year's Christmas shopping season than in the previous year, writes Népszabadság. According to the article, retailers do not expect this year's holiday season to follow the same... [read complete entry]
November 11, 2009, 12:06 CET
Best bargain at big new Buda shopping mall may be the office space
Over on Caboodle.hu you can read about today's opening of the new Allee mall, which was built over the remains of the historic Buda Skála, the biggest shopping center in Communist-era Budapest. According to the developer, the 46,000 sqm of... [read complete entry]
November 06, 2009, 11:13 CET
Dairy farmers stage gory protest against low milk prices
Dairy farmers placed 12 severed cow's heads in front of the Agriculture Ministry Thursday morning as they protested against conditions on the milk market. They also poured milk on the street. Authorities initiated legal proceedings against the organisers on charges... [read complete entry]
October 27, 2009, 09:35 CET
Retail trade in Hungary continues to stink, except for perfume
The decrease in retail trade sales worsened further in August, writes napi.hu. Turnover at retail stores in the first eight months of 2009 was 4.2% lower than in the same period last year, and in August, 7.2% lower than in... [read complete entry]
October 15, 2009, 10:31 CET
Domestic DIY firms unite to compete with multinationals
Sixteen Hungarian home-improvement companies have established a purchasing association in order to compete with major multinational peers such as Germany's OBI, Praktiker and Bauhaus, Austria's Baumax and France's Bricostore the business daily Vilaggazdasag reported on Wednesday. The latter big companies... [read complete entry]
October 15, 2009, 10:07 CET
Electro World opens new store in Hungary following takeover
Electronics chain Electro World will open a new store in Miskolc (NE Hungary) on Thursday, Electro World told MTI. The new, 2,500-square-meter store will provide employment for 46 people. Romania's EW Electro Retail Ltd purchased Electro World from Britain's Dixons... [read complete entry]
September 18, 2009, 11:08 CET
Recession drives Hungarian consumers to "mobile shops"
As the recession has forced a number of small shops to close down throughout western Hungary, more than 500 new mobile shops have started operating, business daily Napi Gazdasag said on Friday. Mobile shops had previously only targeted small villages... [read complete entry]
September 08, 2009, 10:10 CET
Italian fashion brand opens first Budapest store with Paris Hilton
Italy's Coin group opened its first store outside of Italy on Váci utca in downtown Budapest on September 4, reports vg.hu. The store occupies 1,300 square meters in Palazzo Dorottya, developed by RDM, another Italian company. Coin sells medium-range apparel... [read complete entry]