eCommerce market in Turkey

Turkey is the 19th largest market for eCommerce with a predicted revenue of US$26,569.7 million by 2024, placing it ahead of the Netherlands. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 9.3%, resulting in a projected market volume of US$37,865.9 million by 2028. With an expected increase of 10.5% in 2024, the Turkish eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Turkey, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Turkish eCommerce market. Electronics is the largest market and accounts for 30.5% of the Turkish eCommerce revenue. It is followed by Care Products with 21.6%, Fashion with 15.9%, Grocery with 12.2%, Hobby & Leisure with 10.0%, DIY with 5.8%, and Furniture & Homeware with the remaining 4.1%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Turkish retail market, the online share is 7.0% and will increase by an average of 1.2% to 7.4% by 2028.

The biggest player in the Turkish eCommerce market is trendyol.com. The store had a revenue of US$4,088.6 million in 2023. Store rankings include every store that generates revenue in Turkey. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Turkey was considered.

The Turkish eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 87.1% of all online stores checked. Other offered payment methods in the Turkish eCommerce market in 2023 are Mastercard (Cards) with 87.1%, Invoice (unknown) with 59.8%, and Bank transfer/cash in advance (Bank transfer) with 48.5%. With 39.7% Cash on delivery (Cash on delivery) has already a significantly smaller coverage compared to VISA (Cards).

Despite Yurtiçi Kargo's dominant position with 46.9% of online stores opting for its services, the Turkish eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including MNG Kargo, Aras Kargo, hepsiJET, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.

In the Turkish eCommerce market, there is intense competition among various shop software solutions, leading to a highly fragmented landscape in 2023. None of the major shop software solution, including T-Soft, IdeaSoft, and Ticimax, have been able to secure a market share exceeding 11.7%, suggesting a diversified market with numerous players holding smaller stakes.