Market Dynamics
The e-commerce market in Turkey is expected to record significant growth over the forecast period, from 2018 to 2032. This significant growth can be attributed to the technological advances, changing lifestyles, rising disposable incomes, and internet penetration in the country. The increasing internet penetration in Turkey is one of the key drivers of the e-commerce market. According to the Turkish Statistical Institute, 81.9 percent of the population was connected to the internet in 2017. This was a 13.7 percent increase from the previous year and is expected to further increase in the coming years, allowing more Turkish citizens to purchase goods and services online. The Turkish e-commerce market has seen significant increases in the number of users in the last few years. In 2016, the total number of online shoppers increased by 24 percent, to 12 million. This was due to the increasing economic opportunities and access to technology. In addition, the development of payment systems, in both the public and private sector, has also contributed to the growth of e-commerce in Turkey.
The government’s efforts to promote electronic payments, as well as recent initiatives to create more digital banking services, including online and mobile banking, will likely play a vital role in further expanding the Turkish e-commerce market. Furthermore, the introduction of the e-commerce platform, e-tukas, in 2016 has led to a remarkable growth in e-commerce in Turkey. The platform allowed Turkish citizens to purchase goods online from government-authorized retailers. This contributed to the growth of the e-commerce market, as it helped traditional retailers to assess the customer preference and demand in their areas. Overall, the e-commerce market in Turkey is anticipated to experience significant growth over the forecast period, from 2018 to 2032. Technological advancements, increased internet penetration, improved payment systems, and new initiatives are expected to drive the growth in the Turkish e-commerce market. Furthermore, with the growth of the middle class in the country, the Turkish e-commerce market is expected to continue to develop in the future.
