Growth in e-commerce (goods and services) had been accelerating throughout the review period prior to 2020, but the advent of COVID-19 saw current value sales more than double during the latter year. With retail outlets closed for an extended period and consumers spending more time at home, many of them purchased goods online for the first time.
Such was the rate of growth in demand for e-commerce (good and services) during 2020 that many players struggled to cope. Warehouse capacity, delivery networks and even IT infrastructure came under significant strain, particularly during the early months of the pandemic.
Mobile e-commerce accounted for more than half of total e-commerce (goods and services) retail current value sales for the first time during 2021. Smartphone penetration is increasing, and a growing number of local consumers are using these devices to make purchases, rather than merely browsing.
Competition among online marketplaces is growing more intense in Turkey, with Hepsiburada, N11 and Trendyol – in which Chinese online retailer Alibaba is a minority shareholder – the main local players. Trendyol, which is the largest of the three, started out as an apparel online marketplace, but over the course of the review period, it has expanded to cover a much wider array of consumer goods, including home textiles, consumer electronics, apparel and footwear, baby care and home furnishings.
Mobile banking is well established in Turkey, with all of the main banks having their own digital wallets with NFC payment features enabled for smartphones. Some banks, like Ziraat, Garanti and Isbank are approaching ten million mobile banking customers.
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