In 2018, intensifying macroeconomic deterioration continued to have a negative impact on the outlet growth of the category of apparel and footwear specialist retailers, which in earlier years had extended its outlet network significantly. In particular, exchange rate value depreciation of the Turkish lira against foreign currencies significantly increased the operational costs of outlets located in both strategically important streets and in shopping centres.
The increasing preference for and popularity of online shopping in 2018 forced retailers operating under apparel and footwear specialist retailers to increase their investments in their online stores and their presence in online marketplaces. Apart from consumer level factors, leading retailers are also investing more in online retailing due to the significant increase in operational costs of outlets and decreasing profit rates per outlet.
Following the declining number of incoming tourists prior to 2017, in 2018 the number of incoming tourists registered a dramatic increase. As a result of the exchange rate value depreciation of the Turkish lira, clothing and footwear items in the country became significantly more appealing to incoming tourists.
In 2018, leading local apparel and footwear specialist retailers such as LC Waikiki, Defacto and Koton continued to register dynamic growth as a result of their extensive outlet networks, price advantages and brand awareness. International companies, on the other hand, continued to lose share against their local competitors due to the rising operational costs of outlets and significant price increases as a result of exchange rate value depreciation.
In 2018, chained retailers continued to gain share against their independent competitors. Chained apparel and footwear specialist retailers continued to be better equipped to launch new products that follow new consumer trends at competitive prices.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Discover the latest market trends and uncover sources of future market growth for the Clothing and Footwear Specialist Retailers industry in Turkey with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Clothing and Footwear Specialist Retailers industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
The Clothing and Footwear Specialist Retailers in Turkey market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Retailing market research database.