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E-commerce in Hungary - Statistics & Facts

Since the early 2000s, e-commerce has been constantly expanding in Hungary, encouraging more and more consumers to make their purchases online. Hungary has a population of almost 10 million, out of which 66 percent were online shoppers in 2020. Even though in the previous years the new online shopper growth rate has slowed down, the coronavirus (COVID-19) pandemic has led to a signifficant growth in e-commerce. Consequently, in 2020, online retail trade revenue reached 909 billion Hungarian forints, representing a 16 percent increase compared to the year before.

The outbreak of the coronavirus (COVID-19) pandemic and the growing popularity of purchasing over the internet inspired many retailers to rethink their business models and adapt to the online world, making various product categories available for online purchase. During the last year, fashion, electronics and media, and food and personal care were the most lucrative industries, with fashion products accounting for 40 percent of the total e-commerce revenue.

The large variety of products sold online forced e-tailers to do more to attract customers, opening the way for improved services, enhanced communication and strong price competition. One of the most important indicators of the rudimentary consolidation of the Hungarian e-commerce market is the merger of two key players in the country, E-mag and Extreme Digital. The consolidation of the domestic market is crucial for the economy, since local online retail platforms need to keep pace with their international competitors, such as eBay or Amazon, as an increasing number of Hungarian online buyers decide on cross-border shopping.

When it comes to paying for goods purchased online, interestingly, in 2020, nearly a third of Hungarians still preferred cash on delivery, however, electronic payment methods also gained popularity. Based on the number of online mentions, in 2020, Paypal, Revolut, and Curve were the most widely-known digital payment services in the country.

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