Fashion market in Hungary

The Hungarian Fashion eCommerce market is predicted to reach US$713.0 million by 2024 and accounts for 16.9% of the total eCommerce market in Hungary. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 1.3%, resulting in a projected market volume of US$750.7 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Hungarian Fashion retail market, the online share is 29.2% and will increase by an average of 13.6% to 48.6% by 2028.

With sales in the Hungarian Fashion market, shein.com generated a revenue of US$122.6 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Hungary is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

With 94.6% Mastercard the most commonly offered payment method of all online stores in the Hungarian Fashion eCommerce market in 2023. Like Mastercard VISA with a share of 92.9% and American Express with a share of 46.4% the payment type Cards is the most common used by online retailers in in the Hungarian Fashion eCommerce market in 2023. Other commonly used payment methods in that market are Cash on delivery (Cash on delivery) with 82.1% and PayPal (E-wallets) with 39.3% of stores offering that payment method to the clients.

With 74.2% of all online retailers using GLS the most common shipping service provider in the Hungarian Fashion eCommerce market in 2023 closely followed by Magyar Posta, utilized by 53.0 of online retailers. Other shipping service providers, including DPD, Express One, and FOXPOST, are employed by a significantly smaller proportion of online retailers.

Although ShopRenter holds a commanding lead with 15.5% of online stores using the shop software solution, the Hungarian Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including Unas, WooCommerce, Magento, and PrestaShop, which collectively hold a significant share of the market.