Why Turkey is the new ecommerce hotspot?
The country that bridges Europe and Asia is also a vibrant place to invest for digital businesses and the growth of 30.5% in B2C e-commerce shows that the country is taking ecommerce very seriously.
According to the Transportation, Maritime Affairs and Communications Minister, Ahmet Arslan, “(...)Tremendous development in communication and transportation infrastructure in Turkey has helped our e-commerce to boom,” he said. During his speech at the International E-commerce Summit in the Mediterranean province of Antalya on November 20th in 2017, he also said that Turkey is aiming for a larger share of the global e-commerce market. (source Hurriyet Daily News website).
With internet-related infrastructure developments, Turkey is pretty interesting for companies who are interested in crossborder sales. Turkey’s potential for digital sales can increase its numbers three times in four years.
The Ecommerce Foundation report, published in December 2017, described that although 49 million people (48% of the population) represents internet consumers, only 29% of them made digital shopping in 2016. Report also states that B2C digital transactions grew 30.5%, that accounts for US$ 5,852 million making it a target for international companies.
Reaching this market
In order to successfully enter the Turkish market a partner that can process local payments is crucial for success. BoaCompra can help you access this market easily.
With BoaCompra your business can:
- Accept payments in local currency Turkish Lira (TRY);
- Accept 18 different local payment methods;
- Accept local credit cards and mobile payments;
- Sell in Turkey without having a local bank account or company registration, and get paid anywhere in the world.
Why sell in Turkey?
Here are facts about the Turkish market.
- 66,8% of the Turkish population is connected to the Internet, approximately 53 million people;
- 87% of internet users access internet every day;
- Internet users spend approximately 6 hours and 46 minutes online daily;
- The most popular online purchase category is clothing and sports followed by travel and household goods;
- Industry executives estimate online shopping revenues of US$ 7.7 billion a year;
- Local credit cards, bank transfers, mobile payments and E-wallet are among the most popular local payment methods.
*Data from the Government of Turkey and We Are Social’s “Internet & Social Media Users Statistics Report, 2016”.
About online shoppers in Turkey
Young aged consumers (from 15 - 25 years old) are boosting sales that focus discounts, not only convenience. According to Ecommerce Foundation report, social media has a strong influence on sales and facebook is by far the most popular channel among the young consumers.
Turkey in numbers:
- More than 79 million inhabitants;
- GDP in 2017 = € 674.4 billion;
- People with internet access: 49 million (58%);
- Internet penetration rate of 51%;
- 4 in 10 Turkish internet users frequently use a smartphone to access the internet;
- 24.8% of all internet users aged 16-74 in Turkey bought goods and services online.
Source: survey conducted by the Turkish Statistical Institute.
Payments accepted in Turkey
Hassle-free Bank Transfer options through direct integrations with more than 11 banks. Your customers can pay via ATMs, branches or through bank websites.
Local Credit Cards
We offer you an entire coverage of domestic cards with local processing.
Let your local customers pay via any mobile operator they have in the country.
Start accepting e-wallets such as Go4gold.