Turkey: Consumer Profile

July 2023

Population expansion, higher birth rates, urbanisation, migration and generational shifts continue to shape Turkey’s demographic landscape. Persisting economic challenges influence Turkish consumption patterns with more people seeking affordability. The influence of Millennials on consumer preferences will solidify. The number of singletons is forecast to increase considerably through to 2040, yet couples with children will remain an important cohort at least over the medium term.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Turkey report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Turkey report answers:

  • How consumers in Turkey are changing? 
  • What are key changes in Turkey population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Turkey and how it is changing consumer landscape?
  • What are key income groups in Turkey? What is the outlook for the future?
  • Where consumers are  spending the money in Turkey? 
  • How is the consumer mindset in Turkey changing?
  • In Turkey , what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Turkey?
Download Table of Contents
Scope
Key drivers affecting consumers in Turkey in 2022
How developments today shape the consumer of tomorrow
Key findings
Today 2022: Population in Turkey remains relatively young
Today: Population continues to grow, supported by notable birth rates and immigration
Turkish consumers, especially Millennials and Gen X, prefer branded goods
Tomorrow 2040: Older cohort to increase, yet Turkish society to remain comparatively young
Tomorrow : Millennials the largest cohort in 2040, while Gen Zs will be 30-45
Tomorrow : Istanbul to expand at the fastest rate among Turkish cities
Areas of opportunity
Case study: New housing development takes place after the earthquake destruction
Today 2022: Household size in Turkey is higher as compared to Western Europe average
Turks continue to prioritise more spacious homes to accommodate their larger families
House sales decline due to an increase in residential property prices
Tomorrow 2040: Fewer families with children and more single Turks
Older men to become key household decision-makers
Mobile phones to continue as the primary internet access for Turkish consumers
Areas of opportunity
Case study: Turkey’s Central Bank moves forward with the development of digital lira
Today 2022: Higher income bands less affected by inflation
Turkey raises minimum wage amid inflationary pressures
Gen Z and Millennials demonstrate highest intentions to increase spending
Tomorrow 2040: Social class D, the lower-middle class, to remain prevalent by 2040
Tomorrow 2040: Incomes to rise at the fastest rate regionally, yet will remain low
Tomorrow 2040: Istanbul and Ankara to remain the largest Turkey consumer markets
Areas of opportunity
Case study: JYSK expands into Turkey in 2023
Key findings consumer survey
Younger generations exhibit a more optimistic perspective regarding their future
Turks rely on credit cards and other consumer borrowing more than global average
Turkish workers strive for better salaries
Turks, especially Millennials, like to visit shopping malls
Turks worry about climate change
Case study: Deposit Management System to be mandatory in Turkey by 2024
Areas of opportunity
Key takeaways
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