Market Size of Turkey E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 22.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Turkey E-Commerce Market Analysis
- The growing penetration of the internet in Turkey is expected to support the market growth. The internet users have increased in the country, while household access to the internet has also seen a growth in users. According to the Turkish Statistical Institute, the rate of internet users reached 82.6% in 2021 compared to 79% in the previous year. This is due to an increase in the spending of people aging between 16 and 74. The internet penetration also increased in the household sector from 90% in 2020 to 92% in 2021, further supporting the demand for the studied market.
- An increase in online shopping has also surged, which can be seen from the growth in the percentage of people using the internet to buy goods has reached 44.3% in 2021 from 36.5% in 2020. The low pricing, ultrafast delivery, discount coupons, COD, loyalty points, and easy return features adopted by the players in the region have also influenced the buying pattern of men in 2021. According to the Turkish Statistical Institute, 70.7% of people purchased goods online in the first three months of 2021, including clothing, shoes, and accessories, while 40.8% used the internet to order food online.
- The rapid increase in mobile traffic from B2C e-commerce websites is being witnessed in the country. The convenience of using the Mobile phone for purchasing goods for eCommerce websites has supported the demand for the market. Additionally, E-commerce transactions amount to approximately 18% of trade in Turkey, out of which cell phone applications made nearly 70% of the transactions.
- However, increasing cybercrime incidents on e-commerce platforms are expected to hinder market growth. Also, the E-commerce companies generally store customers' bank account and credit card details, mailing addresses, Email addresses, passwords, and usernames, exposing them to cybersecurity attacks.
- COVID-19 has given an impetus to E-commerce across Turkey, encouraging people to make use of contactless and timely delivery in the comfort of their homes. Also, the future of electronic groceries is bright in the country, especially with the increase in Turkey's online shopping users due to Covid-19. COVID 19 has changed the purchasing behavior and buying patterns of customers.
