Despite rampant inflation, Türkiye’s economy made a surprisingly strong start to 2024, with many Turks accelerating their spending in anticipation of a currency slump following the local elections in March.
Households are bracing for inflation rates approaching triple digits by the end of the year, with the consumer price index in June 71.6% higher on an annual basis and 1.64% higher month-on-month.
Consumer confidence in Türkiye is deteriorating, with a marginal increase of 0.1% in May followed by a 2.7% decline in June. All sub-indices that comprise the Turkish consumer confidence index fell in June: the financial situation of households at present dropped by 2.2%, the financial situation expectation of households over the next 12 months declined by 4.4%, the general economic situation expectation over the next 12 months fell by 2.8%, and the assessment on spending money on durable goods over the next 12 months decreased by 1.6%.
In June, Türkiye’s Central Bank highlighted that, in addition to high and persistent services inflation, inflation expectations, geopolitical risks, and food prices are sustaining inflationary pressures.
'The tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed,' it noted.
Here's an overview of the top ten supermarket retail chains in Türkiye, according to their most recently-available full-year turnover. All data is supplied by Retail-Index.
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1. BIM
Turnover: €7.05 billion (2021)
BIM, with some 9,760 stores as of 2023, is the largest supermarket retail chain in Türkiye. Founded in 1995, BIM offers products at low prices, with a focus on food and household essentials.
In addition to Türkiye, BİM also operates abroad in Morocco and Egypt.
2. Migros
Turnover: €5.65 billion (2021)
Migros operates multiple banners/brands including M, MM, MMM, 5M, Kipa, M, Macro Center and Migros Jet. Dating back to 1954, Migros is the second-largest supermarket retail chain in Türkiye, with 3,004 outlets as of 2023.
3. SOK Market
Turnover: €2.84 billion (2021)
SOK Market is one of the largest supermarket retail chains in Türkiye with 10,281 outlets as of 2023. SOK Market was founded in 1995.
4. Metro C&C
Turnover: €1 billion (2021, estimated)
Wholesaler Metro C&C operates under the Metro banner and has 34 outlets in Türkiye as of 2023.
5. Carrefour
Turnover: €936 million (2021)
Carrefour operates under several banners in Türkiye, including Carrefour Express, Carrefour Hypermarket, and Champion. The French retailer, which entered the Turkish market in 1993, has 850 stores in the country as of 2023.
Carrefour Group was the first company to bring the hypermarket concept to Türkiye.
6. Bizim Toptan
Turnover: €717 million (2021)
Founded in 2001, Bizim Toptan operates 180 stores in Türkiye as of 2023.
Bizim Toptan is the largest company in Turkey's Cash & Carry sector in terms of number of stores.
7. A101
Turnover: n/a
Part of Yeni Magazacilik A.Ş. and founded in 2008, A101 is a rapidly growing supermarket retail chain in Türkiye with around 12,000 outlets in the country as of 2023.
8. Ekomini
Turnover: n/a
Ekomini was established in 2012 and has approximately 1,000 stores in Türkiye as of 2023.
9. Onur
Turnover: n/a
With nearly 40 years of experience in food retailing, Özen Group opened its first supermarket in 1996 in Istanbul under the name Onur.
It has 113 stores in Türkiye as of 2023.
10. Hakmar
Turnover: n/a
Hakmar was established in 1997 and has 32 stores in Türkiye as of 2023.
About Retail-Index
Retail-Index is a specialist supplier of management information on consumer retail markets, provided by Veraart Research Group in the Netherlands. Its mission is to supply managers with up-to-date key information on retail markets in Europe and support them in their international expansion.
The company dates back to 1964, when it started as a market research and marketing consulting company for consumer products and services. In 1989, it started publishing written reports on various retail sectors in Europe. As of 2005, it publishes its information on retailers through the online database and curated datasheet exports available on www.retail-index.com. A team of researchers manages the data to reflect upon current developments in the markets, collected from an extensive number of sources.
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