Strategic questions for retailers
Retailers who want to seize growth opportunities at this time should find the answers to strategic questions
Overview of Turkey’s economic performance in recent years
Despite the exchange rate fluctuations and the pandemic, Turkey experienced constant growth in GDP following the 2008 crisis
As in the rest of the world, economic activity slowed in Turkey during COVID-19. However, unlike the rest of the world, its real GDP grew with the effect of policies (decreased borrowing costs and a significant increase in credit growth rates) aiming to mitigate the economic effects of COVID-19.
The main reasons for the increase in 2021 are i) low base effect from 2020, ii) recovery in domestic and foreign demand and in the service industry after the vaccine, iii) strong position in foreign demand and continuous increase in the export and import industry.
The effect of the pandemic on inflation
However, the decline in the value of the TRY and increasing inflation affected the industry recently
Main fields of change for consumers and retailers
Under these conditions, the retail sector saw changes in 5 main fields
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