Turkey Represents One of the Fastest Growing Economies in the World, According to a New Study on ASDReports

Turkey represents one of the fastest growing economies in the world. The country‘s GDP experienced a CAGR of just under 11% (based on TRY billion values) over 2007–2013. Turkey‘s economy in 2013 had nearly doubled in size since2007, led by strong domestic demand, trade and increases in foreign investments. Recovery of other European markets, especially those that are export destinations, will further fuel the growth of economy over the next five years. However, political unrest can influence its short term prospects.

The Difference

• The report provides a comprehensive overview of Turkey’s retail market for companies already operating in and those wishing to enter the Turkey’s market which is ideal for up and coming businesses looking to enter the market
• Understand which channels and products will be the major winners and losers over the coming years and plan accordingly, with a comprehensive coverage of 26 products, across 12 product sectors that include: Clothing, Footwear, Books, News and Stationery, Electrical and Electronics, Food and Grocery, Personal Care, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, Sports and Leisure Equipment, Sports and Leisure Equipment, and Luggage and Leather Goods
• Benefit from a detailed analysis of vital economic and population trends which are influencing the retail market

Some of the great highlights of this report

Customer loyalty to local stores is still strong but big discounters and supermarkets are rapidly increasing market share .Turkish consumers are used to a long tradition of mom-and-pop corner stores (known as bakkals), and still exhibit strong loyalty to their local stores. However in parallel, the growth of organized retailing is restricting the growth of the traditional stores, as organized retailers can better compete with greater volume margins and better aesthetics, major pulls for the younger population. Major retailers can make use of this by implementing customer loyalty schemes, such as member discount cards, to attract greater consumer attention.