Turkey E-commerce Market

Turkey E-commerce Market Overview: 

The Turkey e-commerce market size reached US$ 27.8 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 245.71 Billion by ​2032​, exhibiting a growth rate (CAGR) of 26.50% during 2024-2032. There are various factors that are driving the market, which include the rising adoption of smartphones, increasing utilization of social media, a high number of internet users, and the need for an enhanced and convenient shopping experience.

Turkey E-commerce Market Trends: 

Rising Adoption of Smartphones

As per the Statcounter, in March 2024, Samsung’s mobile share was 18.43% and Apple’s mobile share was 19.86% in Turkey. Smartphones make it easy for people to explore, compare prices, and shop online whenever and wherever they choose. The expansion of internet shopping in Turkey is a direct result of this change in consumer behavior. Smartphones and mobile-friendly websites are making it easier to purchase on the go with specialized applications and mobile-friendly websites. The enhanced convenience with which people can now make purchases while on the go is leading to increased transaction volumes in the e-commerce sector. In addition, smartphones enable the adoption of digital payment methods and mobile wallets, making transactions more seamless and secure. This has reduced barriers to online shopping and increased trust among individuals. As a result, people in the nation are becoming more confident about purchasing products via online channels. Besides this, smartphones are making it easier for small and medium-sized enterprises (SMEs) to participate in e-commerce. They can easily set up online stores and reach a broader audience without significant upfront investments.

Increasing Utilization of Social Media Platforms

In January 2024, there were approximately 57.50 million social media users in Turkey, according to Datareportal. Social media networks give Turkish e-commerce companies easy ways to interact with their target market. Companies can communicate with individuals in real time, answer their questions, and develop bonds that promote loyalty and trust. Social networking is an effective marketing tool that give Turkish e-commerce companies a large audience to view their goods and services. Organizations can more effectively engage potential clients and enhance brand recognition through influencer partnerships and targeted advertising. Additionally, Turkish people can post their product reviews and experiences on social media. This user-generated content serves as valuable feedback for e-commerce businesses, influencing purchasing decisions and enhancing transparency. Furthermore, many social media platforms now offer integrated shopping features such as in-app purchasing options. This seamless integration allows people to discover and purchase products directly from social media posts, driving impulse buying and increasing conversion rates. Moreover, e-commerce businesses collaborate with influencers to promote their products, leveraging their credibility and large follower base to drive sales. In line with this, social media platforms use sophisticated algorithms to target specific demographic groups and user interests.

Turkey E-commerce Market News:

• 10 April 2024: Ikas, a Turkish startup, raised US$ 20 Million for its small-business e-commerce platform. The World Bank Group's venture arm, the International Finance Corporation (IFC) fund, spearheaded the investment.
• 18 September 2023: Following a meeting with President Recep Tayyip Erdogan, Alibaba Group Holding Ltd. announced that it will invest US$ 2 billion in Turkey's e-commerce platform.
   

Turkey E-commerce Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type and transaction.

Type Insights:

• Home Appliances
• Apparel, Footwear and Accessories
• Books
• Cosmetics
• Groceries
• Others
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes home appliances, apparel, footwear and accessories, books, cosmetics, groceries, and others.

Transaction Insights:

• Business-to-Consumer
• Business-to-Business
• Consumer-to-Consumer
• Others
   

A detailed breakup and analysis of the market based on the transaction have also been provided in the report. This includes business-to-consumer, business-to-business, consumer-to-consumer, and others.

Regional Insights:

• Marmara
• Central Anatolia
• Mediterranean
• Aegean
• Southeastern Anatolia
• Blacksea
• Eastern Anatolia
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, Eastern Anatolia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Turkey E-commerce Market Report Coverage:

Key Questions Answered in This Report:

• How has the Turkey E-commerce market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Turkey E-commerce market?
• What is the breakup of the Turkey E-commerce market on the basis of type?
• What is the breakup of the Turkey E-commerce market on the basis of transaction?
• What are the various stages in the value chain of the Turkey E-commerce market? 
• What are the key driving factors and challenges in the Turkey E-commerce?
• What is the structure of the Turkey E-commerce market and who are the key players?
• What is the degree of competition in the Turkey E-commerce market?  

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Turkey E-commerce market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Turkey E-commerce market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Turkey E-commerce industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.