{"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

Meanwhile, PwC said in its report that Turkey ranks among Europe\u2019s top 10 in consumption expenditures and in the top five in food expenditures. At the time, Turkey is expected to sustain its five-year turnover performance, boasting an average growth rate. However, it\u2019s important to note that PwC\u2019s report was published in 2016.<\/figure>\n

Although organised retail has been grabbing a bigger share of Turkey\u2019s retail industry, its percentage of the overall market still seems to be significantly lower than that in other developed countries.<\/p>\n

The Turkish retail market mainly consists of traditional players, despite steady growth of local and international chain stores and recent acquisitions and mergers. Some of the biggest Turkish retailers include the likes of B\u0130M A.\u015e, Migros Ticaret A.\u015e, A101, and CarrefourSA.<\/p>\n

Discount chain A101 made an appearance as number 241 in the 2020 Global Powers of Retailing report, which is compiled by Deloitte and ranks 250 retailers of all types based on total revenue. And before the pandemic, B\u0130M, Migros and A101 all made it to Deloitte’s 2019 Global Powers of Retailing Top 250 Companies\u00a0list.<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of Turkey’s retail sector reached \u00a3108 billion in 2019. With a fast-growing population of young people, Turkey represents vast opportunities for its retail industry. Retail Gazette looks at whether the economic growth has continued despite the Covid-19 crisis.<\/p>\n","protected":false},"author":39,"featured_media":17797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4140],"tags":[4142,4141],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17452"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=17452"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17452\/revisions"}],"predecessor-version":[{"id":17798,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17452\/revisions\/17798"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17797"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=17452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=17452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=17452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}