The Most Internationally Competitive Hungarian Ecommerce Companies

The HungarEcomm Stars Award was presented for the first time, recognising Hungary’s most outstanding ecommerce businesses that have the potential to be competitive on the regional and even global market.

The award, presented by the Digital Trade Association (DKSZ), Ecommerce Hungary, and Growww Digital, can be won by Hungarian-owned companies whose annual online revenue exceeds HUF1bn (EUR2.5m) and meet strict competitiveness criteria. These include economic stability, digital competence, and an effective market strategy.

“Just being on the list is a great achievement, as these 47 companies represent one-thousandth of Hungarian online stores, yet their significance is highlighted by the fact that their combined revenue last year exceeded HUF500bn forints, 40% of which (HUF219bn) came from online sales. These companies could hold their own anywhere in the world,”

said László Szabó, managing partner of Growww Digital.

The award was presented at the Internet Hungary conference in Siófok on October 1, 2024. Out of the 47 most globally competitive companies, 15 received personal recognition. Among the companies with the largest revenues, exceeding HUF10bn,

• Pepita Group Zrt. (pepita.hu) took first place,
• BioTechUSA Kft. (shop.biotechusa.hu) came second,
• iPon Computer Kft. (ipon.hu) was third,
• Vöröskő Kft. (euronics.hu) was fourth,
• and Premium Sport Kft. (heavytools.hu) was fifth.

In the HUF5–10bn range,

• WhiskyNet Kft. (whiskynet.hu) ranked first,
• followed by Mobilredfox Kft. (mobilfox.com) in second place,
• Furbify Hungary Kft. (furbify.hu) in third,
• then Zákány Szerszámház Kft. (zakanyszerszamhaz.hu),
• and Dockyard Islands Kft. (dockyard.hu).

In the HUF1-5bn category,

• Greenman Kft. (greenman.hu) took the top spot,
• followed by Nutriversum Kft. (nutriversum.com)
• and Suller-Táp Kft. (kutyakajas.hu),
• Webshop Logisztika Kft. (vagyaim.hu) finished in fourth place,
• while eOptika.hu Kft. (eoptika.hu) took fifth.

The goal of the HungarEcomm Stars Award is to showcase good examples and encourage the growth and international expansion of Hungarian ecommerce businesses. It is crucial to have more successful Hungarian ecommerce companies on the international stage, as today ecommerce accounts for 9 percent of retail sales in Hungary, but according to expert forecasts, this figure could rise above 20-25% within a decade.

With the fierce competition in ecommerce marketplaces, an increasing number of foreign companies are entering the Hungarian market. It makes a significant difference what portion of that 25% will be claimed by Hungarian ecommerce businesses. A cautionary example of what could happen if this doesn’t materialise is the rapid spread of TEMU in Hungary.

If foreign companies were to replace Hungarian ecommerce businesses, it could cause significant economic harm. The future of ecommerce is being shaped now. If globally competitive ecommerce companies that can expand across Europe and other parts of the world do not multiply in Hungary, the domestic ecommerce market will be dominated by foreign players. As ecommerce takes an increasing share of consumer spending, this would drastically reduce the Hungarian economy’s share of domestic revenue.

“Domestic players can only compete with international challengers if they themselves become international players. International expansion is not only beneficial for companies but also contributes to the country’s economic performance: it boosts exports, creates jobs with higher added value, and strengthens the production sector. But it’s also important for consumers: if only a few global companies were present in the domestic ecommerce market, the smaller competition would reduce the availability of domestic products and, in the medium term, price competition as well,”

said László Szabó, managing partner of Growww Digital.

The spread of ecommerce is a global trend, and Hungary cannot afford to fall behind in this race. There is an increasing need for domestic companies that can keep pace with global competition so that Hungary does not become merely a market for foreign companies.

The Most Globally Competitive Hungarian E-commerce Companies 2024, Listed Alphabetically:

• 220volt
• Acershop
• Alinda (group data) 
• Aqua.hu
• BioTechUSA
• Bonus-Shop
• Bravo Store
• Brendon
• Bútor1
• Devron Impex (babaszafari.hu)
• DIEGO
• Dockyard
• eOptika
• Építőanyag.hu
• Euronics
• Furbify
• Gazdabolt
• Greenman.hu
• Gyerekjátékbolt
• HeavyTools 
• Homelux
• Insportline
• iPon
• JátékNet
• KütyüBazár.hu
• Lumenet
• Maximus HCD Kft. (converse.hu)
• Mobilfox
• Multi-vitamin.hu
• Notebook.hu
• Nutriversum
• Online márkaboltok
• PCX
• Pelenka.hu
• Pepita
• Praktiker Kft.
• Preciz.hu
• REGIO Játék
• Retro Jeans
• S-Sport International
• Suller-Táp (kutyakajas.hu)
• SzaniterOnline
• tok-shop.hu
• Vagyaim.hu
• Vigorshop.hu
• WhiskyNet
• Zákány Szerszámház