{"id":17452,"date":"2022-06-02T02:42:17","date_gmt":"2022-06-02T02:42:17","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=17452"},"modified":"2022-07-23T09:54:25","modified_gmt":"2022-07-23T09:54:25","slug":"turkey","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/06\/02\/turkey\/","title":{"rendered":"Turkey"},"content":{"rendered":"
\nWith a population of over 82 million, Turkey is one of the most populous states in Europe \u2013 even if only a tiny fraction of its land is considered part of the region. In fact, only Germany and Russia are bigger, with populations of 83 million and 144 million respectively.<\/p>\n
Turkey is one of the EU\u2019s main partners in the Middle East and both are members of the EU\u2013Turkey Customs Union. While it borders two EU member states, Bulgaria and Greece, negotiations around Turkey\u2019s application to accede to the EU have not progressed since 2016.<\/p>\n
Yet when compared to the 28 EU member countries as of 2019, Turkey has the highest proportion of young people aged 15-24, according to Turkish Statistic Institute. PwC said in a 2016 report that Turkey\u2019s growing young population is \u201cmore eager to spend all provided significant opportunities for progress in the retail industry\u201d.<\/p>\n
Despite the Covid-19 pandemic affecting retailers globally, data firm Fitch Solutions predicted in a recent report\u00a0that household spending in Turkey would begin to recover this year thanks to better employment figures and ongoing government stimulus measures.<\/p>\n
Furthermore, a 2019 KPMG report\u00a0found that the value of Turkey\u2019s retail industry reached 1.1 trillion Turkish liras (\u00a3108 billion) and suggested a recovery in 2020. The sector is one of the biggest engines for the economy, employing over 1.9 million people.<\/p>\n
There were a total of 453 shopping centres across the country as of 2018 and only five more opened in 2019. The report also showed that the rate of people using online channels for shopping reached 34 per cent in Turkey in 2019, up from 29.2 per cent in 2018.<\/p>\n