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What the numbers say: Istanbul hosted the most e-commerce businesses in Turkey in 2022, followed by the cities of Ankara, Izmir, and Bursa. There is a wide gulf between Istanbul and the other top cities in this category, with Istanbul hosting more e-commerce firms (198,582) than the next eight cities combined (169,451). Relevance: The number of e-commerce firms in Istanbul grew from 131,326 in 2021 to 198,582 in 2022. Similar growth was seen in other cities, with the number of e-commerce firms in Anakara growing from 26,291 to 44,616 over the same period. The rapid increase in Turkish e-commerce firms reflects the fast pace of e-commerce growth in the country more broadly. Revenue from Turkish e-commerce is projected to show a compound annual growth rate (CAGR) of 14.46% between 2023 and 2027. Brands that should care: E-commerce firms in Southeastern Europe and Southwestern Asia may benefit from expanding into the nearby Turkish market to take advantage of its rapid e-commerce growth. Small retail businesses within Turkey may also consider launching e-commerce operations to reach more customers, many of whom have likely started shopping online. |
