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According to data from CSO, retail turnover fell 10.2 percent in April compared to the same period last year. This is a good indication that the quarantine period had a negative impact on traffic.
At the end of last year, almost 120,000 retail stores were present in the market, but in the next few years, up to 18,000 of them may close. At least he’s likely the Hungarian director of web store marketing software company Retargeting.Biz. According to Szabolcs Nótin, due to rapid digitization, more and more physical stores will switch to online or hybrid sales (online + offline). According to the expert
Shopping habits are fundamentally changing due to the epidemic and digitization, complemented by the economic crisis that is expected in a few years, this could mean the cessation of up to 10-15 percent of physical stores.
The expert responded to our previous article, in which we wrote that three times as many web shops and websites have been created in Hungary since the outbreak of the coronavirus.
They expect an explosion.
The first person from the webstore marketing company confirmed that there has been a significant increase in the number of its users and that existing customers have also been advertising with a larger marketing budget since March. By mid-summer, the pace of growth appeared to be returning to its previous pace, but fears of further restrictions are now driving companies that had previously turned it away from online sales as well. Szabolcs Nótin noted:
We expect that in 2020, retail sales will show more significant growth only for e-commerce companies.
Target groups who previously preferred brick-and-mortar stores are also more courageous to shop online. This is expected to be one of the positive benefits of the current situation: online stores now have enormous opportunities for improvement. This will also apply to the quality of customer service and the introduction of innovative marketing tools, such as marketing automation platforms.
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