Updated: Sep 18, 2020
It's a very established fact that e-commerce is a growing market on a global scale. Naturally, Turkey is getting its share of this growth very well. It's obvious that today's standards don't reward conservatism and e-commerce for a business is not an option, more of a necessity. Turkish businesses should also find their place in this current. Turkey's e-commerce is booming according to the 2019 TÜBİSAD, Deloitte Turkey, SimilarWeb, and Inveon joint report.
Turkish e-commerce is growing more rapidly than you think
According to this 2019 report, the annual market growth of Turkish e-commerce was 39% from 59,9 billion TL to 83,1 billion TL. Following this report as noted in Webrazzi, online retail has the biggest growth with 48% followed by legal bet websites, holiday and hotel bookings, and omnichannel retail. Retail has the biggest market share with 44,9%. All these statistics are the most obvious and effective facts to convince businesses why the Turkish market is blooming.
Turkey always had the potential to show this much of e-commerce growth. According to 2017 statistics, more than 59 million people own a cell phone in Turkey. The e-commerce growth probably hasn't even come to a peak since people still see the internet as a recreational tool. However, as you can see with the new statistics this is changing. With people realizing that the internet is more than a mere tool, they utilize the internet for more essential tasks like shopping. Turkish market was conservative to jump into online retail, however, in the long term, this is changing.
Why settle for domestic when you can go global?
As mentioned above, Turkey has a great domestic electronic commerce market thanks to the fact that internet use is always on the rise. However, the domestic market isn't enough for the long haul. Turkish businesses can aim for markets bigger than the domestic market such as the global one.
Production is meaningful only if you have the right market to sell your product. Conventionally brick-and-mortar shops were the only places where the product could meet with the market. Nowadays, with the accessibility of the internet on a global scale, this became a tale of the old times. Why should you be satisfied with a local store when you can ship your product to another part of the world? Why not start exporting your products?
Export in Turkey always a good option to expand your business further. E-commerce enables you to achieve this expansion with fewer risks and fewer complications. As a business owner, this may sound a risky proposition. However, the infrastructure you need and the team you build will make it much easier to transit yourself into the domestic and the global e-commerce markets.
To sum up, as a business owner in Turkey you should be very much aware of the fact that your online presence is your key to growth now. With such a growing capacity to accommodate more consumers, Turkish and global e-commerce may be the next thing to bring more success and revenue to you. We're here to answer your further questions!