New German chain has entered Hungary, threatening competition
The new German chain TEDi has recently opened its fourth store in Hungary. The product categories sold in the stores are similar to those of Pepco and KiK, which means that competition might be in trouble now.
TEDi offers everything from cosmetics, home furnishings, decorations and toys to office supplies and pet food. The chain might be new and Pepco and KiK might be already very well-established stores in Hungary, TEDi has a rather bright future in Hungary. Pénzcentrum has taken a look at where the competition among the industrial goods chains stands.
How many stores does each chain have in Hungary?
TEDi has four stores in Hungary: in Budapest at the Savoya Park and in the XVIII. district, as well as in Székesfehérvár and Pápa. In contrast, Pepco has 223 stores in the country, and Kik has more than 100 stores, according to their website. But TEDi could soon start a rapid expansion within Europe, not excluding Hungary.
What kind of shops are they?
According to Pénzcentrum, it is difficult to define the exact profile of these three chains. That is because they offer practically all kinds of goods that are needed in everyday life. TEDi’s motto, for example, “Everything decoration, party, stationery and much more” does not tell us too much. The range of goods on offer is reminiscent of the once common “hundred-forint” shops, a concept that existed abroad in the same way, as one-euro, one-dollar shops.