Overview
Introduction
Verdict Research: From a retail standpoint Hungary has the lowest five-year
growth in spend in the CEE. Hungary' s GDP growth lags the rest of CEE (apart
from Slovenia), while inflation has rocketed in recent years. In response the
government has implemented an austerity programme, which has reduced consumer
expenditure over the last two years. As a result retailing is extremely price
focussed.
Scope
- This brief provides accurate insights into key trends, future developments
and discusses the strategies of the main operators in the market.
- Proprietary data on market value and growth. 2002-2007 data for six
different retail sectors and overall value data for Hungary.
- Detailed sector analysis for grocery, DIY, electricals, furniture, and
clothing is provided.
- Market shares for leading retailers in grocery, evaluation of non food
players and insightful analysis into their operating strategies.
Report Highlights
Against western European retailing and purchasing power, Hungary is a small
market. While growth looks healthy at 9.3% in euros, in Hungarian Forints
(HUFt) overall retail expenditure in 2007 only grew by 2.9%, significantly
slower than other CEE markets.
The four musketeers of German retailing, the discounters Aldi, Lidl, Penny and
Plus are growing strongly. Penny and Plus have dominated the market with more
than 150 outlets each, but there is rapid change. Lidl has established its
business rather quickly, and Aldi has started its expansion through its
Austrian subsidiary Hofer.
New formats such as furniture boulevards and Factory Outlet Centres have made
their mark. That said, in many areas these formats are ahead of their time.
Hypermarket development has only now reached saturation levels. Due to the
austerity measures instigated by the Hungarian government purchasing power
could be depressed for a long time to come.
Reasons to Purchase
- Understand strategic issues in the market, retailers' responses and our
recommendations on how to cope with the tough macro economic environment.
- Learn about major foreign and domestic players in Hungary' s retail market.
Pinpoint sector opportunities and in-fill potential.
- Discover how the market and retailers' future initiatives will develop.
Find growth opportunities in specific sectors and identify the key threats.
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