Turkey: Retail Foods
Despite the slowdown in the growth of the Turkish economy in general, the food retail sector is expected to grow eight percent annually. The total retail sector in Turkey reached US$214 billion in 2015 and is expected to reach US$290 billion by 2018, fueled by increasing disposable income levels and strong consumer demand. The share of food in the total retail sector is roughly 62 percent, worth US$137 billion.Discount supermarket chains continue to dominate the food retail sector. Private label products are increasing their share against branded products and the number of discount stores are still increasing at a fast pace. Meanwhile, as profit margins get smaller, some players are seeking growth by concentrating on sales rather than high profit shares, increasing efficiency and cutting costs, and via mergers and acquisitions.