Recent Study: Turkey Retail Report Q2 2015

We retain a positive growth outlook for the Turkish retail sector in 2015 and beyond. Total household spending will be spurred by the growth of the economy and rising income of consumers. We anticipate that 2015 and the next four years will mark the expansion of the largest retail chains into the country's periphery as well as the further intensification of competition in the cities.

Turkey continues to emerge as a centre of influence and economic gravity in South Eastern Europe. However, it is set to face several external challenges in 2015. The political and economic crisis in Russia is affecting most of the country's trade partners. According to the Turkish Statistical Institute, Russia is Turkey's third largest origin of imports, with the total value of USD2.3bn of goods bought by Turkish companies and consumers in 2014. If the turmoil in Russia prolongs, the retailers in Turkey are likely to be forced to look for new trade partners. The eastern neighbours are unlikely to becoming adequate substitutes: conflicts in Syria and Iraq have a negative impact on the country's economy, especially in the easternmost regions. Turkey, as the most-developed country in the northern part of the Middle East, serves as a refuge for Syrians and Iraqis fleeing their homes from the on-going conflicts in their respective countries. In addition, the plummeting oil price and the sharp shift in the dollar-euro exchange rate in late 2014 and early 2015 is changing the dynamics of the retail market. While a large part of the industry exports to eurozone countries and receives payments in euros, the consumers end up paying dollar-related prices in the retail market. Euro-related income and dollar-related expenses are likely to influence the household purchasing power in 2015.

Full Report Details at
- http://www.fastmr.com/prod/957449_turkey_retail_report_q2_2015.aspx?afid=303

In anticipation of these challenges, the confidence in the retail sector declined in late 2014. In fact, the retail sector experienced the largest decline in confidence among all economic sectors...

The Turkey Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Turkey Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

* Benchmark BMI's independent retail industry forecasts for Turkey to test other views - a key input for successful budgeting and strategic business planning in the Turkish retail market.

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