Retail grows 10 percent amid Gezi protests in Turkey

ISTANBUL

The retail sector managed to grow 10 percent in a month despite protests. DAILY NEWS photo

Revenue of the organized retail sector increased by 10 percent in May 2013, compared to the month before, and 20 percent compared to May 2012, the Trade Council of Shopping Malls and Retailers (AMPD) by Nielsen report has shown. The sector representatives said they had managed to overcome the negative effects of the Gezi protests and the harsh police response on their revenue by making extra discounts.

The sector grew 15 percent in the first five months of 2013, according to the report. The food retail sector revenue increased by 6 percent in May compared to the month before, although the non-food retail sector managed to increase its revenue by 14 percent.

In the light of the latest data, the number of active malls had been 340 by May, with rentable space of 8.79 million square meters, with a 1 percent increase in May compared to the month before.
 
“Our main customers are tourists in this season and unfortunately we have seen significant decreases in the number of tourists who visited Turkey this year due to the Gezi protests. We, however, do not see huge decreases in our revenue thanks to the high shopping volumes during the Istanbul Shopping Fest,” a sector representative said, adding that people also went shopping more for their own or their children’s graduation ceremonies. He noted that they also managed to attract more customers by creating more discount campaigns.