E-commerce Boom in Türkiye: A Detailed Look at the Rapid Growth
In a recent report by the Trade Industry, it was revealed that the e-commerce volume in Türkiye has more than doubled last year, increasing by over 115 percent from 2022 to reach a staggering 1.85 trillion Turkish Liras ($77.9 billion). The forecast for 2024 is even more impressive, with expectations that the e-commerce volume will hit 3.4 trillion liras and the number of transactions will reach 6.67 billion.
Rapid Increase in E-commerce Share in General Trade
One of the most notable findings from the report is the significant rise in the share of e-commerce in general trade, climbing from 10.1 percent in 2019 to 20.3 percent in 2023. E-commerce also accounted for 6.8 percent of GDP last year, marking a 33 percent increase from 2022. Goods and services constituted the majority of the e-commerce volume, with white goods and small household appliances, electronics, and clothing, footwear, and accessories emerging as the top three sectors.
Regional Trends and Consumer Behavior
The report also delved into regional trends, revealing that the top five provinces with the highest number of e-commerce businesses were Istanbul, Ankara, Izmir, Bursa, and Antalya. Additionally, consumer behavior was analyzed, showing that consumers aged between 25 and 36 were the biggest spenders online, with a particular emphasis on those aged 29. The most purchased items varied across segments, with shoes, shirts, and coats being popular in the clothing segment, and air fryers and kitchen appliances leading in the electronic goods segment.
Overall, the rapid growth of e-commerce in Türkiye presents a promising outlook for the future, with increasing adaptation scores in various provinces and a surge in online transactions during peak months such as November. As the e-commerce landscape continues to evolve, businesses and consumers alike are poised to benefit from the convenience and accessibility offered by online platforms.
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