E-com volume in Turkiye projected to double in 2024: TOBB

E-commerce volume increased by 32 per cent in June and its growth rate remained above the inflation rate in the first five months this year, Ozkara said.

Several companies recorded strong sales in the first quarter (Q1) this year, with the number of transactions rising by around 12 percent, he noted.

Turkish e-commerce volume is projected to reach $97.144 billion-$109.3 billion this year from $54.64 billion last year, according to Seyhun Ozkara from the E-Commerce Assembly at the Union of Chambers and Commodity Exchanges of Turkiye.
E-commerce volume rose by 32 per cent in June.
The share of e-commerce in total retail volume was 18.3 per cent last year.

“The picture, however, changed in April, May and June, as consumers’ access to loan became limited,” he was quoted as saying by domestic media reports.

However, e-commerce sales picked up in June due to festive occasions, he said.

The e-commerce volume in the country recorded a 132 per cent increase year on year (YoY) last year and the number of transactions grew by 23 per cent YoY to around 6 billion.

The average basket size rose by 108 per cent YoY last year to 492 liras, a separate report prepared by iyzico and the Association of E-Commerce Operators (ETID), said.

The share of e-commerce in total retail volume was 18.3 per cent last year, while its share in Turkish national income rose to 6.8 per cent.

Fibre2Fashion News Desk (DS)