Nearly 4,000 retail stores closed their doors permanently in the second half of 2023, indicating a sharp decline in national sales volume for this type of store. According to KSH data, in mid-summer 2023, there were 110,253 such stores nationwide, but by the end of the year, this number had fallen to 106,296.
the Money center Based on his examination
Most stores closed in Budapest, and the number of such establishments decreased by 5.5 percent, i.e. 1,235 small stores.
The capital is followed by the provinces of Vieques, Baranja, Nograd and Pest, where this figure is less than 5 percent, but close to it, but there was no province where the number of retail stores increased or even stagnated.
Due to inflation in 2023, people will buy less, so store income will also decrease: compared to 2022, retail sales volume in 2023 decreased by 8.36 percent.
However, if we look at the entire past year, this number is even more alarming. In Nograd District, 10 percent of shops closed in 2023, and in Budapest, this indicator reached 9.1. Throughout the entire year, there was no administrative unit in the entire country, as less than 5 percent of shops closed their doors.
However, according to the survey, the situation may improve in 2024. Although retail sales volume did not rise much in the first half of this year, it may not have been possible to significantly reopen stores. What's more, since people prefer to shop in larger stores, we can expect an additional, albeit smaller, decline.
