New Retailing market report from Business Monitor International: "Turkey Retail Report Q1 2014"
Boston, MA -- (SBWIRE) -- 02/13/2014 -- The last few years have been challenging for the Turkish retail sector. Growth evaporated as the global financial crisis deepened, export markets shrank and consumer confidence fell. Retailers were forced to make drastic price cuts to defend the sector's outlook. However we expect strong growth in the future and perceive Turkey as one of the most attractive regional retail markets.
The new Turkey retail report provides an extensive and comprehensive forecast of various retail indicators including household spending, and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts, and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, healthcare and insurance, consumer electronics, toys, pets, gardens, household goods, and a number of other subsectors.
The country is seeing retail groups expand to the rural hinterlands where the older small shop format had reigned supreme. Larger retailers across all subsectors, but particularly fashion, electronics and MGR, are benefitting from this expansion trend the most.
View Full Report Details and Table of Contents
The Turkish economy is very open to foreign trade and the retail sector is proving to be the most attractive (after the banking sector) to foreign investors. Foreign retailers looking to open in the country can benefit from government tax incentives and are therefore rapidly entering the sector. Turkish investment laws treat domestic and foreign investors equally, ensuring that foreign companies benefit from all the encouragement measures offered to local operators. Europe's economic slowdown and Middle Eastern political unrest have made Turkey attractive to new entrants and incumbents seeking to expand. In the shopping centre market, supply will be boosted by 37 new schemes expected to open by the end of 2014.
This influx of western groups is causing the retail sector to slowly shift towards the establishment of more Western-style operations, particularly in the larger cities - although recently medium-sized cities and tourist centres have also been targeted for investment, as their populations have risen in line with the country's general population growth. In response to the changing market, retailers are expanding their range of nonfood items in order to boost sales and margins.
Competition can be expected to intensify over the coming years, as retailers scramble to get a foothold in the alluring and expanding Turkish retail sector, with new expansion plans being announced regularly. This will, however, become increasingly difficult as the sector consolidates - with the beginning of this trend already being witnessed.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Retailing research reports at Fast Market Research
You may also be interested in these related reports:
- Romania Retail Report Q1 2014
- Mexico Retail Report Q1 2014
- Indonesia Retail Report Q2 2014
- China Retail Report Q2 2014
- Croatia Retail Report Q1 2014
- Malaysia Retail Report Q1 2014
- Chile Retail Report Q2 2014
- Israel Retail Report Q1 2014
- Bahrain Retail Report Q1 2014
- Egypt Retail Report Q1 2014
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)