Metaverse eCommerce - Turkey | Statista Market Forecast

The projected value of the Metaverse eCommerce market in Turkey is expected to reach US$195.0m by 2024.
It is anticipated that the market will experience an annual growth rate of 48.31% (CAGR 2024-2030), resulting in a projected market volume of US$2.1bn by 2030.
China is currently the leading generator of value in the Metaverse eCommerce market, with a projected market volume of US$10.2bn by 2024.
In terms of user base, the number of users in Turkey is expected to reach 14.7m users by 2030.
User penetration, which is the percentage of the population using Metaverse eCommerce market, is projected to be 4.6% in 2024 and is expected to increase to 16.6% by 2030.
The average value per user (ARPU) is anticipated to amount to US$48.8.
Turkey's Metaverse eCommerce market is experiencing rapid growth, with a surge in virtual shopping experiences and virtual currency adoption.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Turkey is experiencing significant growth and development. Customer preferences are shifting towards online shopping and virtual experiences, driving the demand for Metaverse eCommerce platforms. This trend is fueled by various factors, including the increasing internet penetration rate, evolving consumer behavior, and the need for immersive and personalized shopping experiences.

Customer preferences: Turkish consumers are increasingly turning to online shopping as a convenient and efficient way to purchase products and services. The rapid expansion of internet access in the country has played a crucial role in this shift. With a large population of tech-savvy individuals, Turkey has witnessed a surge in smartphone usage and internet penetration. As a result, consumers are embracing digital platforms and seeking out new and innovative ways to shop.

Trends in the market: The Metaverse eCommerce market in Turkey is characterized by the emergence of virtual shopping experiences and immersive platforms. Consumers are looking for more than just a transactional shopping experience; they want to be engaged and entertained. Metaverse eCommerce platforms offer the opportunity to explore virtual worlds, interact with virtual products, and socialize with other users. This trend is particularly popular among younger demographics who are seeking unique and personalized experiences.

Local special circumstances: Turkey has a vibrant and dynamic retail industry, with a strong tradition of bazaars and markets. The Metaverse eCommerce market is seen as an extension of this tradition, offering a new and exciting way to shop. Turkish consumers are known for their love of socializing and spending time with friends and family. Metaverse eCommerce platforms provide an avenue for social interaction and connectivity, allowing users to shop together virtually and share their experiences.

Underlying macroeconomic factors: The Turkish economy has been steadily growing in recent years, with a strong focus on technology and innovation. This has created a favorable environment for the development of the Metaverse eCommerce market. The government has also been supportive of the digital economy, implementing policies to encourage entrepreneurship and investment in the sector. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping in Turkey, further driving the growth of the Metaverse eCommerce market. In conclusion, the Metaverse eCommerce market in Turkey is experiencing rapid growth and development. Customer preferences are shifting towards online shopping and immersive experiences, driving the demand for Metaverse eCommerce platforms. With the increasing internet penetration rate, evolving consumer behavior, and supportive macroeconomic factors, the Metaverse eCommerce market in Turkey is poised for continued expansion in the coming years.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.