Homewares in Turkey

PROSPECTS

Slow current value growth in homewares in the forecast period

In contrast with other home and garden categories, homewares could not benefit from the government’s domestic demand stimulation policy, and recorded relatively lower current value growth in 2016 and 2017. This was largely due to fierce price competition, both within branded homewares and between branded homewares and more affordable unbranded products, mostly imported from the Far East.

Food storage will continue to benefit from changing lifestyles

Population density in urban areas and consumers’ lifestyles rapidly changed in Turkey over the review period. The urban population in Turkey rose by about five percentage points between 2010 and 2017.

Increasing availability in emerging retail concepts

Due to the slow current value growth in homewares, companies looked for alternative ways to market their products to strengthen their positions in a fiercely competitive market at the end of the review period. Leading players increased their focus on emerging retail channels, namely discounters and internet retailing.

COMPETITIVE LANDSCAPE

Pasabahce Cam San ve Tic leads homewares

Largely thanks to dominating glassware production in the country, Pasabahce Cam San ve Tic continued to lead homewares in value terms in 2018. The company’s products are not only available in its widespread Pasabahce outlets, but also in popular retailers, including grocery retailers such as Migros and BIM, and internet retailers, namely Hepsiburada.

The price competition increases

Over the review period, a number of new homewares specialists entered the market, such as Bernardo and Esse, which pursued a strategy of prioritising outlet network expansion – this had a remarkable impact on the competitive landscape within homewares. However, in the later stages of the review period, increasing price competition and lower than expected current value growth caused a number of exits from the category.

The competitive landscape in homewares is predicted to change

It is expected that the prospective increase in the focus of English Home and Madame Coco on homewares in its future product portfolio plans will bring about remarkable changes in the competitive landscape of the category, and will increase the already fierce price competition in homewares over the forecast period.

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