Turkey Retail Report Q3 2016 - New Market Study Published

The impact of Russian sanctions, the refugee crisis and terrorist attacks will be marked on the Turkish retail sector. Economic confidence began to improve again late in Q116 and is likely to continue to grow throughout the year. We expect a healthy increase in retail spending this year despite a lethargic tourism sector and more cautiousness among retailers. An i mproving labour market and rising household incomes will enable expansion beyond 2016 too.

Key Views & Developments

After a sharp deterioration in Turkey-Russia relations and the Islamic State attack in Istanbul, economic confidence rebounded in March, registering a 9.5% m-o-m increase, according to Turkish Statistical Institute. It will likely enable a stronger economic recovery from 2016 onwards.

Full Report Details at
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Online retail is on the rise as Hepsiburada, the largest player in the market, opened its marketplace to conventional retailers, and Trendyol, an online retailer of fast fashion, announced a plan of initial public offering in 2017.

Migros, one of the largest groceries retailers in Turkey, continues to expand aggressively with a plan to open between 150 and 200 stores in the country throughout 2016.

Total household spending will expand sharply by 11.0% in lira terms this year, but price-adjusted growth will be significantly lower. In dollar terms, spending will contract by 1.8%.

Little change will take place in household spending patterns in 2016 and beyond, as essentials (food & non-alcoholic drinks, housing & utilities and transport) demand almost two thirds of total household budgets.

The Turkey Retail Report has been researched at source and features BMI Research's independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Turkey Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits
Benchmark BMI's independent retail industry forecasts for Turkey to test other views - a key input for successful budgeting and strategic business planning in the Turkish retail market.
Target business opportunities and risks in Turkey through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.

Industry SWOT Analysis

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