Turkish retail industry is expected to grow on the back of gradual recovery of GDP growth, rising employment, increasing wages, and rising household consumption expenditure. The CAGR for total retail during 2016-2021 is expected to be 9.9%. This will add TL379 Billion in sales by 2021.
Health & beauty sector is expected to witness the fastest growth over the next five years. The sector is forecast to register a double digit CAGR during 2016-2021 on the back of a rising aging population, the growing participation of women in the workforce, and increasing awareness of health and wellness benefits.
Home sector sales are forecast to grow at a CAGR of 8.2% to reach TL52.1 Billion by 2021. An expanding middle class population coupled with easy access to cheaper mortgage loans and appreciating property prices in tier-one cities is enabling Turks to invest in residential properties within the cities, which subsequently aids home sector sales growth.
Home furniture and floor coverings specialists and home improvement and gardening supplies specialists are the largest channels in the home sector, together accounting for a share of 70.5% of overall sector sales in 2016.
Bellona is the leading retailer in the home sector with a market share of 4.8% in 2016, followed by Tekzen and IKEA with market shares of 4.8% and 4.2% respectively.
The report "Home Retailing in Turkey, Market Shares, Summary & Forecasts to 2021", provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to Turkish retail environment.
In particular, this report provides the following:
- In-depth analysis of the latest trends in consumer shopping, covering the factors driving shopping, consumer insights, market dynamics
- The report also details major retailers in Home category group with their product proposition analysis and market positioning in 2016 along with recent key developments
- Market insights based on consumer trends, changing economic and demographic factors, technology innovations, and other macroeconomic factors
- Retail sales and the fastest-growing product categories in Home sector
- Qualitative and quantitative insights of changing retail dynamics in Home sector
- Improving housing market will support home retail growth
- Home Sector set to grow by a CAGR of 8.2% during 2016-2021 to reach TL52.1 billion by 2021.
- E-commerce taking greater share. Online sales will grow at a CAGR of 17.4% during 2016-2021.
- Gain a comprehensive knowledge on home sector in the Turkish retail market and develop a competitive advantage from the start of your supply chain
- Investigate current and forecast behavior trends in home category to identify the best opportunities to exploit
- Analysis of key international and domestic players operating in the Home Sector
- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the Home Sector