The retail sales of the tech department store chain Euronics increased by 8% to 64 billion HUF last year from the previous year’s net of 59.2 billion HUF.
The share of the Euronex online store already exceeded 20 percent of the companies’ total sales volume last year, MTI wrote.
The company highlighted that it managed to stay on a growth path in a challenging business year, despite the fact that the number of visitors to its stores was 10 percent down from last year due to restrictions caused by the Coronavirus pandemic and changing consumer habits.
In this announcement, Euronics’ commercial director, Palint Vaskas, emphasized that the results of last year would not have been achieved without the regulatory renewal and modernization process that was launched in 2018. He explained that it was a great help in dealing with the crisis caused by the Coronavirus that the increased growth of sales through The Internet has not affected the company unprepared.
Euronics also doesn’t expect an easy period this year. He wrote that as a result of the pandemic, production and logistics capabilities are deteriorating worldwide, as supplier suppliers have not yet been able to keep pace with consumer demand in all categories. The economic spat between the United States and China could drive up prices in many product categories, and dealers will also have to respond to changes in domestic laws regarding guarantees and warranties, as well as the European Union’s new energy classification system.
The company plans to continue developing its online store this year as well as improving its central logistics system last year.