Turkey E-Commerce Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 22.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Turkey E-Commerce Market Analysis
- The growing penetration of the internet in Turkey is expected to support the market growth. The internet users have increased in the country, while household access to the internet has also seen a growth in users. According to the Turkish Statistical Institute, the rate of internet users reached 82.6% in 2021 compared to 79% in the previous year. This is due to an increase in the spending of people aging between 16 and 74. The internet penetration also increased in the household sector from 90% in 2020 to 92% in 2021, further supporting the demand for the studied market.
- An increase in online shopping has also surged, which can be seen from the growth in the percentage of people using the internet to buy goods has reached 44.3% in 2021 from 36.5% in 2020. The low pricing, ultrafast delivery, discount coupons, COD, loyalty points, and easy return features adopted by the players in the region have also influenced the buying pattern of men in 2021. According to the Turkish Statistical Institute, 70.7% of people purchased goods online in the first three months of 2021, including clothing, shoes, and accessories, while 40.8% used the internet to order food online.
- The rapid increase in mobile traffic from B2C e-commerce websites is being witnessed in the country. The convenience of using the Mobile phone for purchasing goods for eCommerce websites has supported the demand for the market. Additionally, E-commerce transactions amount to approximately 18% of trade in Turkey, out of which cell phone applications made nearly 70% of the transactions.
- However, increasing cybercrime incidents on e-commerce platforms are expected to hinder market growth. Also, the E-commerce companies generally store customers' bank account and credit card details, mailing addresses, Email addresses, passwords, and usernames, exposing them to cybersecurity attacks.
- COVID-19 has given an impetus to E-commerce across Turkey, encouraging people to make use of contactless and timely delivery in the comfort of their homes. Also, the future of electronic groceries is bright in the country, especially with the increase in Turkey's online shopping users due to Covid-19. COVID 19 has changed the purchasing behavior and buying patterns of customers.
Turkey E-Commerce Market Trends
This section covers the major market trends shaping the Turkey E-commerce Market according to our research experts:
Fashion Industry to have a Significant Growth in the Country
- Fashion and fashion Apparel products are some of the most targeted product categories on Turkey's e-commerce website. Additionally, according to the Turkish Statistical Institute and the ministry of trade, apparel exports from Turkey increased by 14.71% Y-o-Y in January-February 2022. Turkey has exported apparel worth USD 3.074 billion in the first two months of 2022, compared to USD 2.680 billion in 2021.
- The Turkish fashion industry seems dominated by multi-category retailers, online marketplaces, and private shopping sites. Renowned online stores in Turkey are Hepsiburada, Gitti Gidiyor, Trendyol and Araba.com. Also, the online store is cost-effective and has a low monthly cost of these websites compared to opening an actual store. These factors contributed to passing on the low-price benefits to the customer.
- Many brands also focus on extending their business in other regions as a business expansion. For instance, in May 2022, Trendyol, a Turkish eCommerce firm, opened its first office outside of its home country in Berlin. The company is also focusing on opening offices in Amsterdam and London by 2023 and will be hiring 200 employees in Berlin. Additionally, Trendyol will focus on fashion, with the expectation of offering more categories In Germany.
- In addition, the E-commerce industry is experiencing growth in the forecast period. For instance, according to eticaret.gov.tr, the percentage of e-commerce retail in Turkey reached 20.4% in December 2021, while in January 2020, it was around 11.7%.
Advancements in Technology to Propel Market Growth
- The Increasing internet penetration and the growing use of smartphones are expected to support the growth of the e-commerce sector in the country. Change in taste of consumers towards online buying as the smartphones and Internet has become more widely used. According to the survey done by the Turkish Statistical Institute, 92% of the households had access to the Internet from home in 2021, which was an increase from 90.7% in 2020.
- Additionally, according to eticaret.gov.tr., the Ecommerce sales value from Household & small appliances and appeals & footwear accessories in the first half of 2021 were the top contributor to e-commerce sales in Turkey, followed by electronics, supermarket, and food. Household & small appliances sales were around TRY 22.4 billion while appeals & footwear accessories sales were at TRY 10.9 billion.
- With the growing use of smartphones and tablets in the country, online retail eCommerce continues to grow. Thanks to technological advancements such as 5G wifi, branded shopping apps, and social shopping, people can shop on their phones.
- Several e-commerce companies provide virtual try-on solutions primarily for the Beauty and Retail markets. Also, other features such as push notification for change in price and stock has made it convenient for customers to get information with just a click. All of this will support the growth of the eCommerce market in Turkey.
Turkey E-Commerce Industry Overview
- August 2021: Turkey-based Trendyol has raised EUR 1.28 billion in new funding round. Turkey-based Trendyol has been valued at EUR 14 billion. This makes the e-commerce platform one of Europe's 30+ decacorns and the first one in Turkey. The new financing was co-led by high-profile global investors, including SoftBank Vision Fund 2, General Atlantic, Princeville Capital and sovereign wealth funds, ADQ, and Qatar Investment Authority.
Turkey E-Commerce Market Leaders
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Amazon
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Trendyol
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Sahibinden.com
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Hepsiburada
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n11
*Disclaimer: Major Players sorted in no particular order
Turkey E-Commerce Market News
- January 2022: Trendyol, Turkey's leading e-commerce company, has expanded its strategic partnership with Couchbase. With Couchbase as its database foundation, Trendyol gets the performance and scale required for its applications, including its online shopping cart, delivery tracking, product catalog, coupons, claims, inventory management, pre-order, and customer personalization.
Turkey E-Commerce Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Penetration of the Internet in Turkey
5.1.2 Increase in Online Shopping
5.1.3 Rapid Increase in Mobile Traffic from B2C e-commerce Websites
5.2 Market Challenges / Restrain
5.2.1 Security Concerns Related to Cybercrime Incidents on e-Commerce Platforms
6. MARKET SEGMENTATION
6.1 By Application
6.1.1 Beauty & Personal Care
6.1.2 Consumer Electronics
6.1.3 Fashion & Apparel
6.1.4 Food & Beverage
6.1.5 Furniture & Home
6.1.6 Others (Toys, DIY, Media, etc.)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Trendyol
7.1.2 Sahibinden
7.1.3 Hepsiburada
7.1.4 Amazon
7.1.5 n11
7.1.6 Vivense Home & Living
7.1.7 Istegelsin
7.1.8 Hepsiburada.com
7.1.9 EasyCep
7.1.10 Aradolu
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Turkey E-Commerce Industry Segmentation
E-commerce refers to selling products like electronics, clothing, furniture, cosmetics, books, and other items over the internet. Companies that provide home delivery services, such as e-commerce and m-commerce, are included in this industry.
Turkey E-commerce Market is segmented by Application (Beauty & Personal Care, Consumer Electronics, Fashion & Apparel, Food & Beverage, Furniture & Home)
| By Application | |
| Beauty & Personal Care | |
| Consumer Electronics | |
| Fashion & Apparel | |
| Food & Beverage | |
| Furniture & Home | |
| Others (Toys, DIY, Media, etc.) |
Turkey E-Commerce Market Research FAQs
What is the current Turkey E-commerce Market size?
The Turkey E-commerce Market is projected to register a CAGR of 22.60% during the forecast period (2024-2029)
Who are the key players in Turkey E-commerce Market?
Amazon, Trendyol, Sahibinden.com, Hepsiburada and n11 are the major companies operating in the Turkey E-commerce Market.
What years does this Turkey E-commerce Market cover?
The report covers the Turkey E-commerce Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Turkey E-commerce Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
E-Commerce in Turkey Industry Report
The E-Commerce market in Turkey is experiencing significant growth, driven by various applications such as beauty & personal care, consumer electronics, fashion & apparel, food & beverage, and furniture & home. This report provides a comprehensive industry analysis, offering valuable industry information and insights into industry trends. The market overview highlights the current market value and the factors contributing to market growth.
Our industry research delves into the market segmentation, providing detailed market data and industry statistics. The report also includes a market forecast, predicting future market trends and growth rate. The industry size and industry sales figures are examined to give a clear picture of the market landscape.
The market outlook section discusses the potential market leaders and their impact on the industry. The industry outlook is optimistic, with positive market predictions and a thorough market review. Our analysis report is available as a report pdf, offering an in-depth look at the market structure and sector analysis.
For those interested in more detailed information, the report example provides a snapshot of the comprehensive research conducted. The report pdf is an essential resource for understanding the market trends and industry worth. Our research companies have compiled extensive data to support the findings and provide a clear industry overview.
In conclusion, this report is a valuable tool for anyone looking to understand the E-Commerce market in Turkey. It offers a detailed market analysis, industry reports, and growth statistics, making it an indispensable resource for market research and strategic planning.
