Magyar Telekom, 6th Largest Player in Online Retail

Magyar Telekom accounted for 2.4% of the turnover of the Hungarian online retail market in 2022, making it the sixth largest online player among Hungarian e-retailers with operations, the company told MTI on Friday, referring to a survey by the GKID analysis and consulting firm.

According to the analysis, the growth rate of e-commerce in Hungary slowed down to 9.9% in 2022, while the share of online sales in the retail sector fell to 9.6%. The number of online orders increased by 11.8%, reaching 77.1 million by the end of the year.

In the online sales market, the value of the basket fell by 2% last year, with customers spending an average of HUF 17.2 thousand per purchase. The fall in welfare spending was most noticeable in sales of technical goods and high-value consumer durables.

Magyar Telekom's online sales platform accounted for nearly 10% of domestic online retail sales in the mobile phone and tablet, consumer electronics and computing product categories, up around 14% year-on-year, the statement said. They added that as in the previous four years, the telecom operator's online store sold the most tablets and mobile devices last year.

    Although customers are more restrained in their purchases in the fast-changing economic environment, Magyar Telekom's sales volume did not decline and even increased, which was also a result of the price increase due to exchange rate and inflation, they said.