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20th November, 2017

Record high Black Friday sales seen

Hungarian online retailers are bracing for record daily turnover in Black Friday sales this year, according to the retail association OKSZ.

Retailers expect to generate Ft 5-10 billion in revenues, accounting for about one third of their monthly sales, OKSZ head György Vámos said. Online sales amounted to Ft 32 billion in the month of November last year, Central Statistics Office data show, he added.

Electronic goods retailer Extreme Digital was the first to introduce Black Friday to Hungary in 2014, seen as a kick-off to the holiday season. Some stores set November 17, while others November 24 as the date for big discounts.

The popularity of these sales is on the rise, according to a recent poll by eNet internet research company. eNet found that over 3.3 million consumers are expected to make a Black Friday purchase this year, up from 2.2 million in 2016.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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