growth Tag

Hungarian e-commerce is growing above average!

In 2016, the European e-commerce revenues rose to 530 billion euros according to the most recent report of Ecommerce Europe. This means a whopping 15% growth compared to the previous year, but Hungary is running ahead of Europe in this matter.

eNET Internet Research’s latest report was presented at the 14th Hungarian Ecommerce Conference. The whole industry was looking forward to this, but the result was quite a pleasant surprise to everyone. Hungarian webshops generated 427 billion HUF (approximately 1,39 billion in EUR) turnover – an extraordinary growth of 34%, surpassing all expectations. Now, e-commerce is responsible for more than 5% of the total national retail trade volume, which is another significant milestone.

Am I ready for growing online? This is the first question that should come to mind for every company leader before taking the first steps towards a market-based growth. László Szabó – co-founder of performance marketing agency, Growww Digital – held a presentation about the best online growth practices at Evolution 2017.

High demand and the ability to monetise. These two aspects create the core of a business’ online growth. Their simultaneous presence is essential for a quick growth in the market. For instance, a website dealing with diamonds can realise only a low demand for their goods, however, their profit on one single purchase can be relatively high. On the other hand, a website that provides lyrics may have many visitors, but it seems to be a difficult task to monetise any of them. In the case of low search volume and demand, high monetisation will not be enough to keep going. This also applies to the other pole: If you face high demand, but you are unable to monetise properly, you will be having a hard time going further.