Turkish retailers are experiencing a interval of sturdy demand, which was boosted by monthlong November reductions, the top of a neighborhood affiliation mentioned Monday, additionally citing constructive expectations for the second half of this month because of the New Year’s festivities.
“Due to the discounts spread throughout the entire month, there was an increase of around 20% in average unit sales in November. We expect the second half of December to pass actively due to New Year’s shopping,” mentioned Sinan Öncel, president of the United Brands Association (BMD).
November, usually, is thought to be one of the vital necessary months for retailers all over the world, primarily due to Black Friday.
Speaking to Anadolu Agency (AA), Öncel, who defined that they conduct common surveys with their members each month, mentioned that they had a “generally productive” first half of the 12 months.
“In the first six months, we observed a limited increase in the unit sales of more than half of our members. Our turnover also increased with the increase in unit sales and the effect of inflation,” he mentioned.
However, he prompt {that a} contraction of 30% to 40% occurred between July and October, which he attributed to a drop in demand as a consequence of tight financial coverage.
“We can say that the measures taken by the economic administration within the scope of combating inflation were effective in the contraction of demand,” Öncel mentioned.
Recent official knowledge by the Turkish Statistical Institute (TurkStat) additionally prompt a restoration in commerce gross sales quantity and retail gross sales noticed in October after a interval of slowdown, notably between May and July.
Trade gross sales quantity elevated by 7.2% and the retail gross sales quantity index elevated by 15.0% yearly in October, in accordance with TurkStat.
Öncel acknowledged they predict that measures to counter demand as a part of the struggle in opposition to inflation will probably proceed in 2025.
As a part of his remarks, he mentioned that BMD is a very powerful consultant of the non-food organized retail sector, with 517 manufacturers beneath its roof.
Source: www.dailysabah.com