Market Overview

The Turkey retail market size reached USD 391.2 Billion in 2024 and is projected to reach USD 868.3 Billion by 2033. The market is expected to grow at a CAGR of 8.30% during the forecast period 2025-2033. Key drivers include urbanization, rising disposable incomes, growing consumer spending, expanding e-commerce, tourism growth, advanced retail infrastructure, and technology adoption that enhances shopping experiences and operational efficiency.

Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Turkey Retail Market Key Takeaways

• The market size was USD 391.2 Billion in 2024, with a forecast size of USD 868.3 Billion by 2033.
• The market is expected to grow at a CAGR of 8.30% during 2025-2033.
• E-commerce expanded rapidly due to digital transformation and COVID-19, with eCommerce transactions surging 22% and values rising 130% from 2022 to 2023.
• Modern retail infrastructure development includes shopping malls and retail parks attracting international brands, supported by investments including a €2.48 billion boost from the European Bank for Reconstruction and Development in 2023.
• Consumer spending increased with retail sales surging 25.1% annually in February, driven by a growing middle class and heightened economic confidence.
• Online payments primarily use credit, debit, and prepaid cards, comprising around 80% of transaction value.

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Market Growth Factors

Turkey's retail industry is driven by the growth of e-commerce, which has been streaming from digitalization and a change in shopping behavior due to COVID-19. E-commerce transactions between 2022 and 2023 increased 22% in number and 130% in value. Credit, debit and multiple prepaid cards account for 80% of the online payment methods. The market is driven by better logistics and delivery, ease of use, convenient payment options, an increase in smartphone and internet penetration and the growing use of social commerce on social networking platforms.

Retail transforms into modern shopping malls, retail parks, and shopping centers throughout Turkey, they shop, entertain, and dine, and brands display flagship stores across the globe. Domestic retailers compete regarding store design, service quality and technology. In 2023, the European Bank for Reconstruction and Development lent €2.48 billion for post-earthquake reconstruction, developing infrastructure and improving the market outlook.

Rising disposable income and economic growth also serve as market drivers. In February 2024, Turkish retail sales growth was 25.1% year-on-year, following an increase of 13.7% the previous month. Non-food sales not including automotive fuels saw 36.5% growth while food and drink sales saw 13% growth, and computers, books, with telecoms products saw 56.1% growth. The expansion of the middle class, who buy more premium brands, and rising consumer confidence have contributed to wider product ranges and the introduction of new brands.

Market Segmentation

Product Insights:

• Food and Beverages
• Personal and Household Care
• Apparel, Footwear and Accessories
• Furniture, Toys and Hobby
• Electronic and Household Appliances
• Others

The report provides a detailed breakup and analysis of these product categories within the Turkey retail market, reflecting current trends and future forecasts.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

The market is also segmented based on distribution channels, highlighting key channels contributing to retail growth in Turkey.

Region Insights:

• Marmara
• Central Anatolia
• Mediterranean
• Aegean
• Southeastern Anatolia
• Blacksea
• Eastern Anatolia

These regional markets are analyzed comprehensively, offering insights into geographical performance and opportunities within Turkey.

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Regional Insights

The report identifies Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, and Eastern Anatolia as key regional markets. While specific market shares or CAGRs by region are not stated, these regions encompass major centers for retail development and consumption across Turkey, reflecting diversified growth and investment in retail infrastructure and consumer consumption patterns nationally.

Recent Developments & News

In January 2022, Trendyol strengthened its strategic alliance with Couchbase, leveraging Couchbase as its database foundation. This enhancement supports applications critical to its retail operations such as online shopping carts, delivery tracking, product catalogs, coupons, claims, inventory management, pre-orders, and customer services, improving performance and scalability.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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