Turkiye: The foreign sales potential of domestic e-commerce companies attracts the attention of foreign investors

ETID President Ekmekci said that the foreign sales potential of those selling in the e-commerce market in Turkiye, the wide range of products for e-export and the high quality of the products attract the attention of international investors.

Emre Ekmekci, President of the Electronic Commerce Operators Association (ETID), evaluated the developments in the sectors to the AA correspondent.

Providing information about e-commerce transaction volume, Ekmekci gave the following information:

“When we look at the current figures, we see that the transaction volume of e-commerce is ₺1 trillion 300 billion . While the share of domestic expenditures in e-Export will be ₺731 billion in 2022, the expenditures of other countries on our country’s e-commerce sites were ₺33.8 billion with a rate of 4.2%, and the purchases made by our citizens from abroad were ₺35.9 billion with a rate of 4.5%. “

“We predict that this year’s current e-Export figures have reached approximately ₺45 billion and that we will close the year with ₺50 billion.”

60% growth is expected at the end of the year

Ekmekci stated that a turnover of ₺800 billion will be made in e-commerce in 2022 and said:

“When we look at today’s figures, I can say that our industry continues its growth momentum in 2023 and continues the rise it achieved during the epidemic period. Accordingly, we plan to reach ₺1 trillion 800 billion turnover figures with a 60% growth in e-commerce by the end of the year. We aim to reach a turnover of ₺2 trillion 250 billion in 2024.”

Ekmekci stated that fashion and accessories, electronics and technology, cosmetics and personal care, service, tourism and travel are among the most traded sectors. He explained that these sectors constituted 63% of the e-commerce sector and 66% of transactions in terms of last year’s sales volume.

Local e-commerce companies are on the radar of international investors

Ekmekci stated that Turkiye’s e-commerce has features that make it attractive to international investors and said, “The international sales potential of sellers selling in the Turkish e-commerce market, the breadth and high quality of the product range for e-export attract the attention of international investors. At the same time, our geographical location puts our country in an advantageous position for e-export.”

Expressing that e-export currently has a serious potential, Ekmekci said that while the share of Turkiye’s e-export in total exports is around 1.5%, the world average is around 4-5%.

Foreign customers and market diversification are on the sector’s agenda

Referring to the Ministry of Commerce’s target of increasing the share of e-export in general exports to 10%, Ekmekci said:

“This target corresponds to $26 billion , and this corresponds to a volume of $50 billion in the coming periods. We must make good use of this opportunity. As a sector, we include issues such as how we can sell products to foreign customers and market diversification, and we are working on these.”

Ekmekci also talked about the state supports for e-export, which have been put into effect since the beginning of this year, and concluded his words as follows:

“Accordingly, with the ‘e-export consortium’ structure, companies specialized in more than one field can now come together to benefit from these supports and act as intermediaries in e-export. At the same time, the Ministry of Commerce determines the expenses of the beneficiary companies engaged in e-export for their promotions through foreign marketplaces, expenses related to order fulfillment services, rent expenses for the warehouses they rent abroad to ensure fast delivery and manage return processes, and opening of online stores in the foreign marketplaces of the target countries, the annual payments of these stores and the expenses related to the services they will receive from the countries’ e-commerce denominators will be supported. We find these steps taken by our Ministry very valuable and we think that they will be very helpful to our exporters who want to move forward on this path.”

Source: AA / Prepared by Irem Yildiz

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