- 19 Jul 2018 8:44 AM
- Budapest Business Journal
Hungarian residents last year spent on average HUF 2,900 per day in retail stores, according to a 2017 study, released by the KSH, says business daily Világgazdaság.
The highest amount per day was spent by residents of Budapest and surroundings, at HUF 3,900. The lowest spending was measured in the North-Eastern region, at HUF 2,200 per day.
The retail sector continues to grow: in May this year the turnover of retail stores was more then 7% higher year-on-year.
Despite that, though, the number of stores is decreasing: while five years ago the rate of stores per 10,000 inhabitants was 146, last year it dropped to 129. However, the concentration varies greatly depending on the region, with 162 stores in Budapest compared to 107 in Pest county.
The figures also indicate that small stores are unable to keep pace with retail chains. Multinational chains not only have the advantage of more efficient logistics and supplies, but they also have more resources to raise salaries and pay the corresponding taxes and contributions.
According to the latest KSH figures, 163 hypermarkets were operating in Hungary, more than 85% in the countryside.