11/2/2011

Turkish e-commerce sector experiencing booming growth, data show

Star - Internet vendors in Turkey sold over USD 8.9 billion worth of goods and services in a total of 91 million transactions in the first 9 months of 2011. The data released by the Interbank Card Center (BKM), the body that monitors credit and debit card usage in Turkey, indicate that Turkish internet users are adapting very rapidly to the convenience and cost advantages provided by e-shopping.

According to BKM data, the total amount spent on e-commerce sites reached TRY 16.7 billion (approx. USD 8.9 billion) up until the end of September, rising 52 percent over the same period of the previous year. The number of transactions also went up by 37 percent, reaching 91.7 million in the same period. “The 52 percent growth rate makes Turkey one of the fastest growing markets in e-commerce,” said Soner Canko, the General Manager of BKM.

According to BKM data, Turkish internet users mostly favored the services sector in e-commerce activities. The services sector, with applications ranging from holiday reservations to online tax paying, generated a total turnover of TRY 2.3 billion (approx. USD 1.2 billion), which is a hefty 69 percent increase over the same period of 2010.
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