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Learn moreAug 2020
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In 2019, the rapid depreciation of the local currency against the US dollar benefited foreign tourists to Turkey, many of whom purchased luxury personal accessories whilst visiting the country, taking advantage of prices up to 25% lower than in their home countries for some brands.
Even before the country’s first case was announced, the Turkish authorities halted flights from China and Iran and closed its borders with Iran on 12 March. It also subsequently stopped all flights from Italy, South Korea and Iraq and closed its borders with Iraq.
Personal accessories remained a fragmented market in 2018/2019, with a large number of both domestic and multinational players looking for ways to increase their shares. The continuation of the anti-dumping duty, a protectionist tariff which the Turkish government imposed on imports of pencils, supported local production.
Specialist retail channels as the main distribution channel in Turkey are highly fragmented and consist of both large chains and smaller independent retailers. Chains focus on offering affordable prices, while independent retailers remain more committed to quality, focusing on the middle and high end.
Volume sales of personal accessories are expected to continue to grow well throughout the forecast period. The unprecedented real-term price declines witnessed in 2020 are unlikely to be repeated, although few categories will enjoy constant 2020 price rises as manufacturers and retailers continue to compete aggressively for customers amid the economic uncertainties facing Turkey going forward.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Personal Accessories 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 Personal Accessories industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Turkey for free:
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Why buy this report?
This industry report originates from Passport, our personal goods 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.