Online retail in Turkey is expected to see an annual growth of 15.8 per cent in constant value terms by 2017, 107 per cent in total, reaching a market value of $6.6 billion, according to global market research company Euromonitor International. On-going technological development, Turkey’s growing population and a sustainable rise in online shopping is expected to continue to support the rapid expansion of Turkey’s e-commerce sector.
The research company estimates Internet usage to rise 27.5 per cent between 2012 and 2017, driving e-commerce. The market penetration of smartphones is expected to increase by 124.4 per cent between 2012 and 2017.
There are currently around 40 million Internet users in Turkey (53% of the population), which in the European ranking of countries with the highest number of internet users puts Turkey in 5th place, just after Germany, Russia, the UK and France. Half of the population is under 30 years old and actively use social networks (Turkey has close to 33 million Facebook users, ranking six in the world). That, along with an enthusiastic fervour for business enterprise, makes Turkey the ideal country to promote e-commerce. In 2012 total B2C e-sales has reached €5.4 billion, over 50 per cent up against 2011
The Turkish youth population is increasingly technologically literate and urbanised, having grown in the Internet age and in cities, unlike their fathers. This trend is exacerbated by Turkey’s growing wealth, allowing more people to by luxury goods, such as smart phones and PCs. With the expansion of Turkey’s GDP per capita by over ten per cent in real terms between 2007 and 2012, the future looks bright for Turkish e-commerce.
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Source: the Hurriyet Daily – Ecommerce Europe Research