Online spending in Turkey greater than doubled last yr, the Ministry of Commerce reports. Significant growth is predicted again this yr. This is essentially the results of inflation, but there’s also considerable autonomous growth.
Ecommerce spending in Turkey amounted to 1.85 trillion Turkish liras in 2023, or 53 billion euros at the present exchange rate, roughly equally divided between services. Spending growth in liras was a minimum of 115 percent, but that doesn’t mean that the importance of ecommerce has doubled in a single yr; the expansion is essentially on account of raging inflation, which has risen to 75 percent.
Realistic picture
To get a practical picture of the expansion of ecommerce in Turkey, it is best to take a look at the variety of transactions. That grew by 22.3 percent last yr to five.87 billion units. For comparison: within the five largest Western European countries, online spending didn’t or hardly increase in 2023, Forrester calculated.
The variety of transactions increased by greater than 22%.
One other indicator of above-average online growth in Turkey is the net turnover share in total consumer spending. That has doubled prior to now 4 years, from 10.1 percent in 2019 to twenty.3 percent last yr. Corona has given a major boost to the adoption of Turkish ecommerce, the ministry notes, but the expansion has continued after the pandemic.
Continued growth
For this yr, the commerce ministry expects spending growth of 84 percent because of 6.67 billion transactions. That’s 13 percent greater than last yr. The forecast is higher than the promising European growth averages that Forrester and GlobalData previously predicted.
Growth forecast is stronger than the European average.
In Turkey, 559,412 firms are registered as lively in ecommerce. The product categories with the most important turnover are white goods and household appliances, followed by electronics and thirdly clothing, footwear and accessories. On average, Turks should wait 46.2 hours for an order to be delivered, in accordance with the report.
