Türkiye is the 18th largest market for eCommerce with a revenue of US$16 billion in 2021. The pandemic has accelerated the digitalisation of the retail sector and the sector now has 484.347 merchant sites.
With an increase of 38%, the Turkish eCommerce market contributed to the worldwide growth rate of 29% in 2021. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development.
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The biggest player in the Turkish eCommerce Market is trendyol.com. The store had a revenue of US$3.2 billion in 2021. It is followed by hepsiburada.com with US$1.3 billion revenue and lcwaikiki.com with US$514 million revenue. Altogether, the top three stores account for 30% of online revenue in Türkiye. It is not difficult to predict that this large percentage will grow in parallel with the total volume.
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Market expansion in Türkiye is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 21-25) for the next four years will be 15%. Revenue in the eCommerce market is projected to reach US$26.47bn in 2022.
Five categories are considered by ecommerceDB. Fashion is the largest segment in Türkiye and accounts for 42% of the eCommerce revenue in Türkiye. This is followed by Electronics & Media with 21%, Toys, Hobby & DIY with 19%, Furniture & Appliances with 11% and Food & Personal Care with the remaining 7%.
Türkiye is a dynamic market for e-commerce. Consumer behavior is rapidly evolving as the population, which is heavily weighted towards younger people, take to smartphones and social media to find and buy products.
For several years, marketplaces have been developing, particularly in the B-to-B sector, and have been investing in sectors that were previously little addressed. In parallel, turnkey solutions are developing.
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