E-commerce has become a global trend in our days and Turkish companies are orienting towards setting up their own platforms in order to reach more customers, according to a recent report issued by the Industry and Business Association (TÜSİAD). The same agency announces the e-commerce sector has a great growth potential if certain measures to help it would be undertaken by the authorities. Our lawyers in Turkey can offer more information on the legislation covering e-commerce.
On a global scale 8.5% of the companies in all industries have a solid presence in the online environment. Compared to these companies, only retailers in Turkey are keen on having their own online shops. 3.5% of all retail companies registered in Turkey have registered domain names with the purpose of establishing e-commerce platforms, according to TÜSİAD.
Even so, timidly these numbers have started growing since the beginning of this year, which is why TÜSİAD has announced that the expansion possibilities of the e-commerce industry are strong. The agency has already started working on a sounder legislation meant to regulate all the elements which would make e-commerce an ecosystem.
Our law firm in Turkey can assist foreign investors seeking to open an e-commerce business here.
TÜSİAD will soon start working on the current legal framework regulating e-commerce and will start with the infrastructure and the logistics related to e-commerce platforms and up to create a financial infrastructure and payment systems which would come in line with the international provisions for this sector. One of the plans of TÜSİAD is to attract traditional retailers and small and medium-sized enterprises to set up online shops.
According to a survey issued by the National Statistics Office, Turkish e-commerce sales rose to 5 billion USD in 2016, which is the first sign of the population’s interest in buying via the Internet. This was also possible thanks to mobile phones which enable young consumers to order goods from their devices.
For assistance in starting a business on the Internet, please contact our Turkish lawyers.