Retail in 2024: The big picture
Retail in Turkey was impacted by still-high inflation and interest rates in 2024, negatively affecting consumer spending. Due to the economic crisis in Turkey, price-sensitive consumers were increasingly drawn to much more affordable products, while the country’s more affluent population and those more resilient to the economic downturn continued to opt for luxury items.
Self-checkout system technology becomes more prevalent
One of the most significant transformations see in Turkish retail and driven by the rapid advancement of technology is the rise of self-checkout system technology, which has improved the shopping experience for customers and redefined the operational strategies of retailers.
GenAI and social and ecological activism trends gain traction
Generative AI (GenAI), is revolutionising the retail industry in 2024 with its ability to create unique and personalised content, understand customer preferences and automate tasks. It is transforming the way retailers interact with customers, manage inventory, and optimise operations.
What next for retail?
As technology continues to evolve, several trends are emerging that will shape the future of retail. One of the most exciting trends in self-checkout technology is the integration with mobile devices.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Turkey report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Turkey?
- Which are the leading retailers in Retail in Turkey?
- How are products distributed in Retail in Turkey?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Turkey?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Turkey
Retail in 2024: The big picture
Self-checkout system technology becomes more prevalent
GenAI and social and ecological activism trends gain traction
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Black Friday
Ramadan (Eid al Fitr)
DISCLAIMER
Convenience Retailers in Turkey
KEY DATA FINDINGS
Convenience stores continue to register value sales growth in 2024
Yildiz leads in terms of number of outlets, Migros holds the highest value share
Further expansion for forecourt retailers
More outlets to open during forecast period
Private label will be the key to growth
Convenience stores benefit from ownership by larger grocery retailers
Supermarkets in Turkey
KEY DATA FINDINGS
Supermarkets sees further growth in 2024
Migros continues to expand
Strategic reallocation of shelf space
Focus on building online presence will remain important
Sharper focus on sustainability and greater offer of local produce anticipated for forecast period
Continued investment in developing private label lines
Hypermarkets in Turkey
KEY DATA FINDINGS
Hypermarkets sees growth in value sales
Consumers show rising interest in local produce
Consolidated competitive environment
More variety will remain key growth driver
Low-cost options will be important to boosting sales
Hypermarkets players invest in improving and increasing their foodservice offers
Discounters in Turkey
KEY DATA FINDINGS
Discounters as highly dynamic format
Sok registers highest value growth
Price wars heat up as products see greater diversity
Discounters to see further high value growth throughout the forecast period
Competition will continue to intensify
Increased focus on sustainability
Small Local Grocers in Turkey
KEY DATA FINDINGS
Small local grocers struggles as consumers seek out lowest prices
Channel faces intensifying competition from discounters and convenience retailers
Many small local grocers turn to home delivery of bottled water
Small local grocers will see constant value sales fall over the forecast period
More players to team up with convenience retailers
Organic specialists as a growing niche in the market
General Merchandise Stores in Turkey
KEY DATA FINDINGS
Department stores adopting strategies for positive environmental and societal impact
Boyner remains overall leader of general merchandise stores
AI projects as cornerstone of technological progress
Investment in shopping centres will decline
Moderate value growth expected for variety stores
Shifting trend in malls from fashion to logistics and tech may hinder growth for department stores
Apparel and Footwear Specialists in Turkey
KEY DATA FINDINGS
Channel benefits from further investment
New digital marketplace from leading player LCW
Sustainability remains central concern
Forecast period will see players focus on younger generations
AI – the new rising star
Self-check-out systems represent fundamental shift in retail landscape
Appliances and Electronics Specialists in Turkey
KEY DATA FINDINGS
Appliances and electronics specialists sees slowed volume sale growth in 2024
MediaMarkt continues to expand
Competitive landscape remains fragmented, led by Arçelik
Positive future forecast for appliances and electronics specialists
Concept of experimental retail continues to evolve
Shifting trend in malls from fashion to logistics and tech should support sales growth
Home Products Specialists in Turkey
KEY DATA FINDINGS
Home products specialists remains resilient and adaptable
DIY and personalisation trends accelerate
Chained retailers gain value share
Continued value growth for forecast period
Focus on sustainability and eco-friendliness to increase
Chained modern retailers will continue to expand
Health and Beauty Specialists in Turkey
KEY DATA FINDINGS
Optical goods stores sees full recovery in 2024
Retailing developments in beauty specialists
Emerging trend: Pop-up stores
Greater focus on ethical and environmentally conscious products, with beauty specialist retailers seeing strong growth
Further growth projected for optical goods stores
Private label will increasingly challenge mass brands
Vending in Turkey
KEY DATA FINDINGS
Current value sales growth strong for vending in Turkey in 2024
New investment continues
Technology improves vending experience
Positive future forecast for vending
Vending machines selling quality coffee set to become more prevalent
Vending represents significant savings for retailers
Direct Selling in Turkey
KEY DATA FINDINGS
Direct selling rises in Turkey in 2024
Avon and Farmasi continue to lead overall channel
Direct sellers boost their online presence
Cultural relevance will continue to support growth of direct selling
Increased demand for premium products anticipated for forecast period
AI Integration will expand across direct selling channel
Retail E-Commerce in Turkey
KEY DATA FINDINGS
Retail e-commerce rises rapidly in 2024
Value-added services as a means of differentiation
Better-integrated infrastructure for electronic payments
E-commerce faces positive outlook over forecast period
Third-party platforms to remain ahead
Younger parents increasingly opt for e-commerce
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Retail research and analysis database.
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