Hungary Retail Report - Business Monitor International - Industry Reports

Hungary Retail Report

Hungary Retail Report - Business Monitor International - Industry Reports
Hungary Retail Report
Published Aug 06, 2016
59 pages — Published Aug 06, 2016
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Abstract:

Spending on housing and utilities will continue to be the biggest chunk of household retail spending, rising to --.-- by ----. Food and non-alcoholic drinks and transport will also account for a high, albeit falling, portion of spending. ...An increasing number of households will move into the USD--,----plus net income category. By ---- about --.- of households will be in this category, up from --.- in ----.However, between ---- and ---- we forecast Hungary s population will shrink from -.--mn to -.--mn, with sharpest decline seen in the young adult (aged -----) group, down from -.--mn to -.--mn. According to preliminary figures from the Central Statistical Office, retail sales rose -.- y-o-y in May ----, or -.- on a seasonally adjusted basis. In March ---- a partial ban on Sunday trading was lifted, allowing a more stores, notably mass grocery retailers in larger-format stores, to open on Sundays. Sweden-based furniture retailer IKEA s third store in Hungary, in Pest, is under construction and is expected to open in ----.

...BMI View: Hungary s economic growth is becoming more reliant on domestic demand, with retail sales performing strongly in recent months. Consumer optimism is being driven by falling unemployment, growing real wages and low inflation, while credit is also becoming easier to access. All this bodes well for Hungary s retailers, as done the relaxation in March ---- of a partial ban on Sunday trading. However, over the long-term opportunities in the retail sector could be restricted by the declining population, and the medium-term - shrinkage of the key spending demographic of those aged between -- and -- years is a concern. All this bodes well for Hungary s retailers, as done the relaxation in March ---- of a partial ban on Sunday trading.

...Total household retail spending is set to fall slightly in US dollar terms in ----, down by -.- to USD--.--bn. Through to ----, however, we see significant growth, with spending reaching USD--.--bn by that year. ...It will be followed by food and non-alcoholic drinks (falling from --.-- to --.-- ) and transport (falling from --.-- to --.-- ). Spending on health and the personal, insurance and other segments is forecast to grow particularly strongly, as the population becomes wealthier, although this growth will be from a low base. We see spending on health rising from USD-.--bn in ---- to USD-.--bn by ----, while spending on personal, insurance and other will grow from USD-.--bn to USD-.--bn. ...

  
Source:
Document ID
2040-9184
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Hungary Retail Report" Aug 06, 2016. Alacra Store. Dec 05, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hungary-Retail-Report-2026-894>
  
APA:
Business Monitor International - Industry Reports. (2016). Hungary Retail Report Aug 06, 2016. New York, NY: Alacra Store. Retrieved Dec 05, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hungary-Retail-Report-2026-894>
  
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