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Learn moreJan 2021
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In Turkey, the fast-spreading Coronavirus (COVID-19) has dampened economic prospects in 2020, and is anticipated to have a negative effect on the retail volume sales of consumer appliances. A direct hit to consumer confidence was noted in the second quarter of 2020, as the first case emerged at the end of the first quarter on 11 March.
Even before the country’s first case was announced, Turkish authorities halted flights from China and Iran, and closed its borders with Iran on 12 March. Subsequently, Turkey stopped all flights from Italy, South Korea and Iraq, also closing its borders with Iraq.
In 2020, the supply chain was effected by the COVID-19 pandemic. Bosch announced a decline in demand for all consumer appliances in late March 2020, leading to the suspension of production in its Turkish plant for at least one month.
While electronics and appliance specialist retailers are set to continue dominating the sales of consumer appliances in 2020, restrictions related to COVID-19 brought changes to distribution channels in Turkey. Most importantly, electronics and appliance specialist retailers such as the well-known Mediamarkt and Techno SA chains were closed at the end of March until at least May 2020 due to the nationally enforced lockdown.
Even though the Turkish government put plans in motion to help businesses and citizens with emergency credits to cover expenses once COVID-19 emerged, the economic uncertainty surrounding the pandemic will continue to limit economic activity in the forecast period. Uncertainty about the future makes consumers more cautious about discretionary purchases, therefore consumer appliances is projected to begin a gradual recovery no earlier than 2021 in retail volume terms.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances 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 Consumer Appliances industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Consumer Appliances market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.