At present, hypermarkets such as those run by groups like Tesco and Auchan, account for around 17 per cent of the €7.6 million Hungarian retail market, according to the report, and this could rise to more than 20 per cent over the next few years as the sector continues to develop.
In fact, the European average of 25 per cent of retail sales from hypermarket formats could be reached very soon, according to Akos Kozak manager of Hungarian market research institute GfK Hungaria, cited by the report.
Hypermarkets account for a combined retail sales area of almost 500,000 sq metres, GfK Hungaria research shows.
The report suggests that Auchan and Tesco will continue to drive expansion of this format in Hungary in 2004, especially as Hungary prepares to join the European Union in May.
Auchan is expected to open one or two stores in 2004, while Tesco could open as many as 10 or 12. Auchan already has eight hypermarkets in Hungary, where it has operated this format since 1998.