B2C Ecommerce Market in Turkey Predicted to Double by 2019
Turkey is emerging one of the most promising business-to-consumer (B2C) ecommerce markets in Eastern Europe.
So concludes a recent report from the market research company yStats.com, which forecasts B2C ecommerce in Turkey will more than double the 2014 sales value.
Turkey is one of the largest and fastest growing B2C E-Commerce markets in Eastern Europe. It ranks in the top thirty countries worldwide by logistics development, according to the yStats report. Payment infrastructure is relatively advanced, with credit cards widely used for online payments. Many other emerging markets still depend on cash on delivery.
“The growing Internet and mobile penetration, along with a developed logistics and payment infrastructure are stimulating growth of online retail in Turkey,” said Yücel Yelken, CEO of yStats.com.
As far as internet and online shopper penetration, Turkey ranks on the median level among other emerging markets worldwide, but by mobile shopper penetration it tops even some advanced markets and ranks among the leaders. Compared to EU and OECD countries, Turkey is still behind in terms of share of individuals having internet access and the percentage of internet users shopping online, indicating plenty of room for growth.
Among the most important trends on the B2C ecommerce market in Turkey are mobile commerce and crossborder online shopping. With the mobile internet accounting for three quarters of all internet subscriptions, some online merchants report a double-digit percentage share of revenues coming from the mobile channel. Close to one-third of online shoppers in Turkey made a purchase from both local and foreign websites last year, with the known international websites such as Alibaba.com and Amazon.com gaining in popularity.
The largest domestic B2C ecommerce player in Turkey is online mass merchant Hepsiburada.com. This year the company raised a multi-million dollar investment which it plans to spend on expanding logistics capabilities and launching a marketplace for third-party sellers. The marketplace is a popular ecommerce model in Turkey, with prominent players such as GittiGidiyor.com owned by eBay and n11.com, launched by Turkish Dogus Group and South Korean SK Group.
Fashion online stores are among the top players, and clothing is the most purchased product category. These include private shopping club Markafoni.com, acquired by South African Naspers in 2014, as well as private shopping clubs Trendyol.com, Morhipo.com, and online fashion retailer Limango.com.tr, part of the German Otto Group.
Dairy Spread Market in the EU Reached $645M