Online Stores Take Growing Slice of Fashion Market

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    When shopping for clothes, most people in Hungary still prefer traditional shops; indeed, last year, turnover grew to more than HUF 550 billion in fashion retail stores. However, traffic in online stores is growing significantly faster. According to a recently published research, the market share of online retailers could reach 28% by 2022.

    Glami.hu, a Czech Republic-based company known for its fashion-themed search engine, published its findings a few weeks ago, providing insight into some recent trends in e-commerce. “2018 was the year of online fashion trade,” the report insists.

    According to its data, the revenue of online retailers is growing significantly faster than offline counterparts. In 2018, online retailers active in Hungary made more than HUF 153 bln, a 12% growth compared to the figures for 2017.

    Already online sales account for 22% of the sector’s market share. This, according to Glami, could rise in the next four years to 28%, bringing in a total of HUF 229 bln in revenue.

    Looking at customer preferences, it seems unlikely that online stores will ever fully replace bricks and mortar fashion stores. The majority of those who buy clothes both online and offline say they still prefer traditional shops, with only 28% giving a preference for web shops over physical ones.

    The full article can be read here

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