In February 2017 the government temporarily removed VAT on home furniture products to revitalise domestic consumption. Initially the tax cut was implemented for three months but it was extended to September. It boosted sales of home furniture products and the performance of homewares and home furnishing stores, which registered slower value...
In 2017 leading companies in supermarkets continued to invest in outlet growth and increase their penetration. In particular, national chained retailers such as Migros Tic AS and Carrefour SA continued to expand their outlet networks, which led to a stronger current value performance for supermarkets compared to that of the previous year....
Turkey’s young dynamic population and increasing number of working women continues to benefit health and beauty specialist retailers. An increasing number of young urban working women with high health and wellness awareness followed recent trends and product developments in personal care and beauty products. Additionally, rising health and...
Due to ongoing urbanisation and the rising number of working women, consumer preference for convenient and fast grocery shopping increased further. As a result of growing number of households where both men and women work, rather than going for more time-consuming shopping through larger formats such as hypermarkets, consumers increasingly...
With rent typically paid in foreign currencies, exchange rate fluctuations increased outlets’ operating costs. Additionally, consumer traffic had stagnated due to increasing security risks. To address this, retailers implemented significant price competition and promotional campaigns, which further reduced their profitability. Consequently...