Boston, MA -- (ReleaseWire) -- 06/20/2014 -- Mixed retailers in Turkey increased in current value by 15% in 2013, a higher rate of growth than the current value CAGR of 11% recorded over the review period. Much of this growth is set to be due to rising disposable income levels and the increasing number of new outlet openings in Turkey's smaller cities. Sales per outlet increased in line with improvements in the economic climate during the last two years of the review period. The performance of the category, however, faced a major challenge from the rapid growth recorded in apparel and footwear specialist retailers, the strongest competitor to department stores in the country. An increasing number of companies operating in department stores in 2013 are opening their own outlets rather than just opening concessions in department stores. For example, international apparel retailer NaraMaxx opened its first outlet in Bursa province in April 2013. Previously, the company's apparel was available only in Boyner and YKM department stores.
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COMPETITIVE LANDSCAPEIn 2013, Boyner Buyuk Magazacilik AS maintained its leading position in mixed retailers in 2013 with a 41% value share. This was largely due to its strongly established position in the country, with 73% of total outlets in department stores under the company's ownership and control. The company owned the Carsi brand until 2004, before converting all Carsi department stores into Boyner outlets. However, in 2011, the company reintroduced the Carsi brand alongside the Boyner department stores brand. Carsi department stores mainly target middle-income consumers, whilst Boyner department stores have larger selling space and target consumers in middle-high income segments, offering some of the world's leading luxury goods brands within its merchandise. Another important development which occurred in the category in 2012 was Boyner Buyuk Magazacilik's acquisition of the YKM department stores chain. YKM was previously Boyner's closest and the most established competitor. Following its acquisition of YKM, Boyner Buyuk Magazacilik was able to establish a completely unrivalled position at the head of mixed retailers in Turkey.
Constant value growth in mixed retailers over the forecast period is expected to be driven by improvements in the economic situation and rising disposable income levels. The category is expected to increase in constant value at a CAGR of 5% over the forecast period, a higher rate of growth than the constant value CAGR of 3% recorded in the category over the review period.
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The Mixed Retailers in Turkey market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic number of stores, selling space and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
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- How are mixed retailers competing against the growth of grocery retailers?
- Are consumers switching towards value retailers or moving upmarket?
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