Hungary

The performance of vacuum cleaners has picked up in 2021, with the category witnessing faster volume growth than in the previous year. Vacuum cleaners saw volume growth slow in 2020, as the closure of non-essential physical retail stores, the…

The closure of offices and shift to remote working seen during the COVID-19 crisis have provided a boost to demand for coffee related products. Many consumers prefer not to start the day without a cup of coffee and also enjoy coffee during the day.…

The COVID-19 crisis has led to contrasting forces influencing the development of refrigeration appliances in the Hungarian market. The challenging economic conditions resulting from measures imposed to limit the spread of COVID-19 have discouraged…

Electric facial cleansers and hair care appliances have both managed to maintain positive performances during the COVID-19 crisis, with demand supported by the limited opening hours of beauty and hair salons, which persisted in the first half of…

While microwaves managed to maintain positive growth in 2020, as the increase in demand for convenient home-cooking options rose as a result of the COVID-19 crisis, the category is set to see volume sales stagnate in 2021. Although the early part of…

Large cooking appliances has been subject to contrasting forces during the COVID-19 crisis, with the rise in home-cooking having a positive impact on demand, while the economic effect of measures imposed to limit the spread of COVID-19 has led to…

Many households purchased new automatic washing machines to replace their old ones during the government support programme in 2019, leading to a marked spike in sales. This resulted in a fall in demand in 2020, which was exacerbated by the COVID-19…

The home seclusion and prevalence of remote working that underpinned a marked rise in the preparation and cooking of food at home during 2020 persisted in the first half of 2021. At the same time, concerns about exposure to the virus that causes…

The marked rise in home-cooking resulting from home seclusion, remote working and studying, and the closure of consumer foodservice outlets has increased the amount of washing up faced by consumers during the COVID-19 crisis, with many people…

Overall, the COVID-19 crisis has had a dampening effect on the development of air treatment products in the Hungarian market. Retail volume growth slowed in 2020, with volume sales declining in 2021. In the early part of the pandemic, sales were…

Széchenyi Pihenokártya (SZÉP Card) products will remain the most popular pre-paid cards amongst Hungarian consumers when it comes to fringe benefits. In 2020, the government made temporary changes to the regulations surrounding such cards to…

The COVID-19 pandemic continues to have a substantial impact on Hungary’s financial cards and payments during 2021 with mixed, often contradictory results. Consumers continue to shift away from the use of cash and towards card payments. In the…

The COVID-19 pandemic, and the subsequent lockdowns and safety measures that were implemented in response, had a complex impact on the use of debit cards in Hungary. In particular, the short-term effects of the rapidly evolving COVID-19 situation on…

Most of Hungary’s leading retail banks temporarily withdrew from issuing new personal credit cards during 2020 due to the APR cap that was placed on non-secured lending by the government on 19 March 2020. This left Budapest Bank, K&H Bank, and Erste…

The COVID-19 pandemic brought with it economic uncertainty and widespread anxiety about the immediate future of the Hungarian economy. The loan repayment moratorium, which was extended to 30 September 2021 with potential for further delays, was…

The COVID-19 pandemic has accelerated the shift of interactions between banks and borrowers towards online platforms, mostly to mobile. As well as the convenience that online platforms offer, consumers have been keen to avoid unnecessary trips…

At the end of the review period, only commercial charge cards were available in Hungary, with personal charge cards rarely, if ever, seen in the country. Moreover, commercial charge cards are only offered to top corporate executives and senior…

Wound care has been negatively impacted by COVID-19. With people going out less due to lockdowns and less outdoor activities and gyms being closed, there was fewer minor injuries as a result, which fed into lower value sales for wound care. In…

Weight management and wellbeing has been largely unaffected the pandemic. though there was a slight dip in value sales in 2020, as consumers prioritised essential consumer health products. In 2021, the product area is expected to register healthy…

COVID-19 was a boon for vitamins. In fact, vitamins registered the second highest current value growth after analgesics in 2020 and it is expected that it will also register healthy value growth in 2021, though value growth will be significantly…