The group shopping sector has reached a $100 million volume in the first six months of its launch in Turkey, according to officials from group shopping website Gruppal, who foresee the market size reaching $300 million in 2011. The company’s target is to become the sector’s leader in 2011.
Gruppal was founded last month and it shares daily opportunities with its subscribers. According to its press release, within a month the website has provided its subscribers with opportunities to save 250,000 Turkish Liras. The portal offers at least 50 percent discounts on entertainment, accommodation and dining services in various Turkish cities.
According to figures provided in the press release, the Turkish Internet market’s size is around $10 billion, including e-commerce, online advertisements and subscription revenues. Turkey is the fastest growing Internet market in Europe.
According to research cited in the press release and conducted in 38 provinces by IPSOS-KMG, the computer ownership rate in Turkey is 44 percent and the rate of Internet use is 32 percent. Similarly, according to Comscore data cited in the press release, the number of Internet users in Turkey is around 28 million.
The virtual point of sale, or POS, volume in Turkey was 6 billion liras in 2009; it is estimated to have reached to 10 billion liras in 2010.
E-commerce registers a 55 or 60 percent growth every year and Turkey is expected to share the status of “second fastest growing e-commerce market” with China in 2011 with a 68 percent growth rate, following India.
An important section of the overall e-commerce is the group sales concept, which allows consumers to purchase goods or services at fairly affordable prices after a certain number of purchasers are gathered. The system works in a similar way to group discounts; the only difference is that the members of the group come together randomly on a web platform.
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