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Turkish E-commerce Ecosystem Outlook

Players need to address key questions to identify growth opportunities and stay competitive in the highly dynamic market

Key questions to define the growth path

  • 1

    How should you define yourway-to-play in the «Super App» transformation in order to protect and increase your enterprise value?

  • 2

    How can you furtherstrengthen your incumbent position in your top categories and verticals?

  • 3

    What would be the ideal journey and timeline to introduce new services?

  • 4

    Which additional value-added services can you provide throughout the buyer’s journey, as well as in merchant relations?

  • 5

    Which capabilities should you build or strengthen to deliver your expanded value proposition, and how? i.e. organic, acquisition or partnerships.

  • 6

    What will be the implications on the operating model and organization structure?

  • 7

    How can you better set growth targets and manage the performance of initiatives – e.g. OKRs?

  • 8

    What will be top-line impact of your new strategy and how will your 5-year P&L look like?

Turkish E-commerce market significantly grew in the last two years and is expected to maintain its high-paced growth

Turkish E-commerce market outlook

 
  • COVID restrictions throughout the year have resulted in an significant growth in demand in 2020.
  • Increased adoption of E-commerce solutions by the sellers and permanent changes in consumer behavior will push the market towards 400-450 billion TRY levels in 2026, to exceed 22% penetration in total retailing.
  • Online shopper base is expected to reach 45 million in 2026 and represent more than %70 of the total addressable population2.

1) E-commerce market definition includes sales of goods on online marketplaces and online channels of omnichannel retailers, excludes travel & transportation, sports betting, gaming, B2B and cross-border sales, excludes VAT
2) People aged between 16 to 74 represent the total addressable market for online shoppers
Source: ETBIS, TUBİSAD, TÜİK, BKM, Strategy& Analysis

 

Marketplace players gain larger share in the market, which encourages other online players to form marketplaces as well

Shifting market structure of the Turkish E-commerce

 

  • Marketplaces offer a wider range of SKUs with a pure&hybrid 1P-3Pbusiness model compared to omnichannel retailers whose primary sales channels have been brick and mortar historically.
  • Turkish retailers are considering forming their own marketplaces to capture their share of the boosting market.
  • Moving forward, share of marketplaces is expected to increase in 2021 and beyond.

1) Gross Merchandising Value generated by marketplaces as a percentage of total E-commerce market
2) 1P refers to first party direct sales where a marketplace sells a pre-supplied and stored product to customer, 3P refers to third party sales where merchants list and sell products on a marketplace platform
Source: ETBIS, TUBİSAD, TÜİK, BKM, Strategy& Analysis

 

Volume increase and evolving customer needs make delivery a must-have capability for competitiveness

Challenges and opportunities in last-mile delivery market

Bottleneck Created by Growing Demand for E-commerce

Investments by Big Players to Improve Service

Opportunity for New Entrants With the Growing Demand

Innovative Logistics Solutions by E-Comm Players

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Growing market and increasing competition drive many players towards forming «Super Apps»

Overview of emerging Super Apps* 

E-commerce (Marketplace & Instant Delivery)

Banks & Telecom Operators

Traditional Grocers

Public Sector Entities

Loyalty Programs

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Players’ priority will be to seize the growing opportunity moving forward

Key takeaways

Marketplaces’ Increasing Presence

Payment Focus

New Models in Delivery

Emergence of «Super Apps»

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Kağan Karamanoğlu

Kağan Karamanoğlu

Territory Leader, Strategy& Turkey

Yusuf Bulut

Yusuf Bulut

e-Retail & Consumer Leader, Strategy& Turkey

Ozan Cığızoğlu

Ozan Cığızoğlu

Financial Services Leader, Strategy& Turkey

Cem Çamlı

Cem Çamlı

Retail & Consumer Leader, Strategy& Turkey

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