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Turkey- A Retailing Persepctive
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TurkeyShamini
Rajaganesh
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Overview
The Country in a Gist
Economics
Market Characteristics
Cultural Climate
The Retailing Sector
Major Challenges
Future Opportunities
References
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Turkey
Transcontinental
Country
Southeastern Europe
and Southwestern
Asia
Strategic location
Modern Turkey was
found in 1923.
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Turkey
Capital : Ankara
Currency : Turkish Lira
People: Turks
Ethnic Groups : Turkish 70-75%
Kurdish 18%
other minorities 7-12% (2008 est.)
Language : Turkish and other
minor languages
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Turkey
Religion : Islam ( 99.8%)
Population : 79,749,461 (July
2012 est.)
Median age : 28.5 years
Urbanization : 70% of the
population; 1.7% of annual rate
of change
Government : Republic of
Turkey
Type: Republican Parliamentary
Democracy
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Economics
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Economics (2011)
GDP
9.6%
Q1-Q3 2011
Consumer inflation
10.45%
Producer Inflation
13.3%
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Economics (2011)
$133 Billion
Exports
$212.2 Billion
Imports
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Exports
Apparel
Textiles
Food
Metal
Transport Equipment
27%
17%
15%
14%
14%
11%
Export Percentage
Germany UKItaly FranceIraq Russia
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Imports
Machinery
Chemicals
Fuels
Semi-finished goods
Transport Equipment
23%
19%
18%
13%
11%
9%8%
Export Percentage
Russia GermanyChina USItaly FranceIran
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The Market
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Consumers
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Consumer spending level
US$6,977• 2010
US$12,948• 2014
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Turkey and EU
Council of Europe
European Economic
Community
Application for EU
membership
Custom Unions
1949 1963 1987 1996
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Foreign Direct Investment
Slow until 2003
New FDI Law in 2003
Simpler and quicker procedures
Reducing macroeconomic imbalances
Functioning market economy
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Foreign Direct Investment
FDI inflow in USD Billion
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Foreign Direct Investment
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Culture
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Cultural Context
High context, indirect, emotion-based
culture
Closed to outside information
Process information subjectively and
associatively.
Values : Hospitality, justness, benevolence,
keeping word and trustworthiness.
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Hofestede’s Dimensions
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Retail Sector
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Global Retail Development Index
2010 Rank
2011 Rank
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Lifestyle/Shopping Habits
Increasing popularity of malls
Young population
Leisure focused
One stop shopping mall
Urbanization
Increasing favorability towards imports
International trend awareness
Consumer Confidence Index : 90.99%
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Market Structure
Customer is the “KING”Oligopolistic MarketIncrease in international retailers
1998
27.4%
•Retail sales
2008
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Retail sales
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Retail Sector Growth
2010 2014E0
20
40
60
80
100
120
140
Home RetailFood Re-tailFood RetailElectronicsApparelE-Commerce
Billion
US
$
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Retail Formats
Hypermarkets – more than 2,500sq m
Large supermarkets – between 1,000 and
2,500sq m
Supermarkets – 400 to 1,000sq m
Small supermarkets – less than 400sq m
Medium markets – 100 to 50sq m
Bakkals – 50sq m or less
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Format Division
64%
37%
2004 Market Share %
Traditional retailOrganised Retail
55%45%
2010 Market Share %
Traditional retailOrganised Retail
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Market Entry by top retailers
Car
refo
ur
1993
Tesco 2003
Metro 2007
Turkey
Ikea 2006
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Major retail players
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Number of Retail Outlets based on type
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Shopping Centre Development
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Challenges and Opportunities
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Challenges
EU accession period – Social, legal, political turmoil
Consolidation of the local marketImproving operational efficiencyCorruptionBureaucracyUnorganized legal system
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Opportunities and Trends
Unexplored chain retailingIncrease in branded imported itemsCRM activities initiationIncrease in private labelsTurquality- 10 global brands within 10 years
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References
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References
1. http://www.atkearney.com/index.php/Publications/foreign-direct-investment-confidence-index.html
2. http://www.atkearney.com/index.php/Publications/retail-global-expansion-a-portfolio-of-opportunities2011-global-retail-development-index.html
3. http://www.goturkey.com/contentk.php?cid=51371&typ=c&lng=en
4. https://www.cia.gov/library/publications/the-world-factbook/geos/tu.html
5. http://news.bbc.co.uk/2/hi/europe/country_profiles/1022222.stm#facts
6. http://www.fco.gov.uk/en/travel-and-living-abroad/travel-advice-by-country/country-profile/europe/turkey/?profile=all
7. Deloitte retail sector update. 20118. Louargand M., (2011) “Turkey: Modernizing through mall
developments”, Insider’s Perspective. Volume 36, Number 2.
9. PricewaterhouseCoopers, “From Beijing to Budapest: Winning Brands, Winning Formats”, 2005/2006 4th Edition.
10. PricewaterhouseCoopers, (July 2007) “Retail and Consumer Worlds”.