Turkish consumers went on a shopping spree in the final week of November when retailers offered large discounts.
The average basket size of consumers during the sales period rose by 75.6 percent this year compared with last year to 1,145 Turkish Liras ($39.6),data from payment platforms show.
The share of credit cars in purchases climbed to 60 percent. Not only retailers at shopping centers but also e-commerce platforms saw record sales.
Consumers spent some 300 billion liras during November, according to Seyhun Özkara, the CEO of IdeaSoft.
There was the combined effect of the Singles’ Day on Nov. 11, Teachers’ Day on Nov. 24, as well as the Legendary Friday and Cyber Monday on Nov. 27, explained Özkara.
Sales in almost all categories on e-commerce platforms increased in November, he added.
Sales volume in a number of segments leaped 120 percent this year compared with 2022, according to Özkara.
Most of the orders were placed on Nov. 24, with the electronic goods, cosmetics and clothing sectors taking the lead, Özkara said, noting that consumers in Istanbul, Ankara and the western province of İzmir were the top spenders.
Most of the sales took place between 8 p.m. and midnight.
“We observed around 100 percent increase in transactions on e-commerce platforms compared with last year,” he said.
The demand for basic necessities was also strong, according to Özkara, which linked it to elevated inflation and discounts offered.
According to the separate data from payments platform iyzico, its member businesses saw a 70 percent increase in transaction volume in November.
When it comes to credit card use, some 75 percent of shoppers preferred single payment, while 25 percent made their payments in installments, mostly in three installments.
In the food category, sales increased by 110 percent this year from 2022, but clothing claimed the top spot in sales.
Women constituted 61.3 percent of shoppers on Black Friday, while men’s share was 38.7 percent.
Women shoppers bought mostly clothes, cosmetics and baby products. Men spent most on computers, software and auto parts.
Consumers rushed to buy goods in November at a time when the headline inflation is running at 61 percent to take advantage of discounts.
The latest official data showed that clothing prices rose by 39 percent in October from a year ago, while the annual increase in furniture was nearly 61 percent. Food and non-alcoholic beverage prices leaped around 72 percent.
Source: hurriyetdailynews