Turkey

Turkey

General Information

  • Population 84.3m
  • Population 15 + 64.3m
  • Online Population 65.5m
  • Area 783,562 km2
  • Currency TRY
  • GDP 719.5bn USD
  • GDP per Capita 8,548 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"61"},{"label":"Cash-based payments","value":"6"},{"label":"Bank transfer","value":"13"},{"label":"Wallets","value":"9"},{"label":"Other","value":"11"}]
Banked population
  • Turkey 69%
  • Middle East & Africa 48%
  • World 67%
Credit card penetration
  • Turkey 42%
  • Middle East & Africa 12%
  • World 19%
Internet penetration
  • Turkey 78%
  • Middle East & Africa 45%
  • World 62%
Smartphone penetration
  • Turkey 76%
  • Middle East & Africa 65%
  • World 70%

The pandemic turbo-charged the Turkish e-commerce market in 2020, causing it to grow by 41.5% compared to 2019. In addition, the number of online stores increased by 276% to 256,861 last year.

Turkey is another country in which social media plays a huge part in influencing e-commerce sales. A large number of the Turkish population prefers to watch live videos of the products they are interested in purchasing before parting with their money.

At least two Turkish e-commerce platforms, Trendyol and Hepsiburadad.com have been seeking investment in their plans to maximise their growth as the Turkish online retail market continues to expand.

Turkey’s economy is set to grow by 6% in 2021 from 1.8% in 2020 according to the IMF, and 3.5% in 2022. Meanwhile inflation is set to rise from 12.3% in 2020 to 13.6% in 2021 before dropping to 11.8% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 21.5
2022 28.3
2023 35.7
2024 43.9
2025 52.7
E-Commerce spending per capita ($US)
2021 253
2022 328
2023 410
2024 497
2025 591
E-Commerce spending as % of GDP
2021 3.2
2022 3.7
2023 4.0
2024 4.3
2025 4.5

Turkey

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: NA | 25%
  2. Electrical Goods: NA | 13%
  3. Clothing & Footwear: NA | 11%
  4. Toys, DIY, & Hobbies: NA | 10%
  5. Health & Beauty: NA | 10%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – NA
  2. Value of cross-border e-commerce ($US billion) – NA
  3. % of online shoppers who have shopped cross-border – 11%

Top 3 cross-border shopping origin markets

  1. China
  2. Germany
  3. Russia
E-commerce % of total retail
  • Turkey 11%
  • Middle East & Africa 3.0%
  • World 20%
E-commerce completed on a mobile device
  • Turkey 55%
  • Middle East & Africa 53%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • other
[{"label":"Visa","value":"50"},{"label":"Mastercard","value":"48"},{"label":"American Express","value":"1"},{"label":"other","value":"1"}]
  • E-commerce market size ($US billion) 15.8bn USD
  • E-Commerce spending per capita ($US) 188 USD
  • E-commerce spending as % of GDP 2.6%

Turkey

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 PaysafeCard Type Prepaid voucher Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PayU Type Bank transfer Regions Asia Pacific + 4 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High BKM Express Type Wallet Regions Middle East & Africa Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Masterpass Type Wallet Regions Asia Pacific + 5 Market relevance High Paycell Type Wallet Regions Middle East & Africa Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High Troy Type Local payment card Regions Middle East & Africa Market relevance High WebMoney Type Wallet Regions Asia Pacific + 3 Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium CASHU Type Wallet Regions Middle East & Africa Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 Boloro Type Wallet Regions Asia Pacific + 5 Bonuspay Type Wallet Regions Middle East & Africa fastPay Type Wallet Regions Middle East & Africa G2A Pay Type Wallet Regions Asia Pacific + 5 Garanti BBVA Mobile Type Wallet Regions Middle East & Africa GPay Type Wallet Regions Middle East & Africa iPara Type Wallet Regions Middle East & Africa İşbank Maximum Mobile Type Wallet Regions Middle East & Africa NETELLER Type Wallet Regions Asia Pacific + 5 Splitit Type Instalments Regions Asia Pacific + 5

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