Press release
Turkey Retail Market Outlook: Trends, Growth, and Future Opportunities 2025-2033
Market OverviewThe Turkey retail market size reached USD 391.2 Billion in 2024 and is expected to reach USD 868.3 Billion by 2033, growing at a CAGR of 8.30% during the forecast period 2025-2033. Key factors driving this expansion include urbanization, increased disposable incomes, rising consumer spending, the rapid growth of e-commerce, tourism, modern retail infrastructure development, and adoption of advanced technologies to enhance shopping experiences and operational efficiency.
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Study Assumption Years
Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033
Turkey Retail Market Key Takeaways
Current Market Size: USD 391.2 Billion in 2024
CAGR: 8.30%
Forecast Period: 2025-2033
The retail market growth is supported by urbanization and rising disposable incomes in Turkey.
Increasing consumer spending and expanding e-commerce platforms bolster the market.
Modern retail infrastructure such as shopping malls and retail parks is reshaping the retail landscape.
Enhanced logistics, delivery networks, and payment options in e-commerce contribute to market expansion.
The growth is further fueled by increased penetration of smartphones and internet access.
The rise of social commerce through social media platforms is also propelling market growth.
Market Growth Factors
Turkey's retail market is driven by urbanization throughout. Rising disposable incomes and consumer spending are also key factors because that increasing economic growth and higher employment rates are causing disposable income to rise, which means an increase in consumer spending. February retail sales increased 25.1% year to year. That is the highest since back in July 2023. Excluding automotive fuels, non-food sales grew by 36.5%. Sales in the food and drink sector rose 13% and sales of computers, books and telephone equipment experienced a 56.1% rise. The market is driven by the expanding middle class and demand for premium brands.
The rapid growth of e-commerce is one of the driving factors of the Turkish new retail market. Additionally, as digitization continues to grow the rate of e-commerce in Turkey, consumers are turning to e-commerce for better convenience and product variety. E-commerce transactions grew by 22% and transaction value by 130% between 2022 and 2023. Credit/debit/prepaid cards account for 80% of the transaction value conducted online. The development of e-commerce logistics, delivery networks, interfaces, payment options, smartphone ownership, internet penetration and social commerce - commerce using social media - contributes to the growth of the sector.
The retail sector is modernizing, with new shopping malls, retail parks and shopping complexes being developed throughout the country that provide a mix of shopping, entertainment and food outlets to consumers. As a result, foreign retailers are entering the market and domestic retailers are upgrading their offerings, using technology and increasing the standards of their stores. Upgrading the retail infrastructure has been helped by record investment of €2.48 billion in 2023 from the European Bank for Reconstruction and Development and investments to rebuild after the earthquake.
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Market Segmentation
Product Insights:
Food and Beverages: Includes all edible products and beverages catering to diverse consumer needs.
Personal and Household Care: Products related to personal hygiene and household maintenance.
Apparel, Footwear and Accessories: Clothing, shoes, and related fashion accessories.
Furniture, Toys and Hobby: Home furnishings, toys for children, and hobby-related products.
Electronic and Household Appliances: Devices and appliances for domestic and personal use.
Others: Additional retail products outside the main product categories.
Distribution Channel Insights:
Supermarkets and Hypermarkets: Large-scale retail stores offering a wide range of products.
Convenience Stores: Smaller stores providing quick and easy access to daily essentials.
Specialty Stores: Retailers focused on specific product categories or niches.
Online Stores: E-commerce platforms serving consumers digitally.
Others: Distribution channels not classified under the main categories.
Regional Insights
The report covers major regions including Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, and Eastern Anatolia. The dominant region is not explicitly mentioned in the report. Not provided in source.
Recent Developments & News
In January 2022, Trendyol enhanced its strategic alliance with Couchbase to improve performance and scalability for applications such as online shopping carts, delivery tracking, product catalogs, coupons, claims, inventory management, pre-orders, and customer services by using Couchbase as its database foundation.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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