E-commerce market size in Turkey 2016-2024
The market size of e-commerce in Turkey showed a significant increase, especially after 2018. Between 2016 and 2020, the market size showed over three times inflation-adjusted growth. In 2023, the market size had the biggest growth by nearly 132 percent compared to the previous year, reaching almost 1.86 trillion Turkish lira. By the end of 2024, the market is predicted to reach about 3.4 billion Turkish lira.
The rapid growth of e-commerce in the country
The development of modern technologies in line with the widespread use of the internet has widely contributed to the e-commerce market growth. In 2022, e-commerce made up 16.5 percent of total retail sales, showing an apparent change in people’s shopping behavior. Additionally, the number of e-commerce transactions in the country increased rapidly in the last few years, reaching a record number of 656.4 million transactions in the fourth quarter of 2023.
A significant shift in the shopping behavior of the consumers
Fast consumption practices and the changing demands of the consumers, together with the unique conditions of the coronavirus (COVID-19) pandemic, paved the way for the e-commerce market to grow immensely. The competition among thousands of sellers and their efforts to improve customer experience resulted in more reasonable prices and a time-saving shopping experience, which were the consumers’ main motivations to shop online in 2021. In the same year, nearly 65 percent of the internet users purchased a product or service online, which indicated that Turkish consumers adapted to shopping online.
