06. August 2012 
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Modern retail stock in Turkey increased
In 2007, GDP change was 4.7% but when the US-based economic crisis hit Turkey in 2008, the GDP change was affected negatively and declined to 4.8% in 2009. Despite the critics, the growth and there covery has been observed in Turkey’s economy in 2010. In 2011, GDP change was 8.5% and change in private consumption was 7.7%. However, due to the decline in external demand and difficulties of internal settlement, the growth rate in 2012 and 2013 is expected to remain at 3%.
According to the latest report of Kuzeybati, an alliance member of BNPPRE in Turkey, combining current projects with new mixed-use projects and the rise in the consumer confidence index compared to previous months caused an increase in consumer demand for retail. On the other hand, the increase in retail are a stock caused a horizontal figure in shopping centers’ footfall.
Online shopping, (e-commerce) is a new trend/tool to reach the customer directly via both direct websites of brands and private shopping clubs. This trend is expected to expand even more.
Retailer Demand
Firstly, shopping centers projects began to be developed in areas with high population, and then continued towards the secondary cities and regions. Recently, as well as the local retail chains expansions international retail chains have been active in Turkey market such as Bath and Body Works, Pinkberry, Victoria's Secret, Longchamp, Hermes, Douwe Egberts Coffee, Zippy, Jakadi, Okaidi-Obaibi, Aeropostale, Scotch and Soda, and the Penguin by Munsing wear. LaFayette and Carluccio’s are the other international brands which are getting ready to enter into market. On the other hand, Nando's and Best buy were with drawn from Turkey. Gloria Jeans, Caribou Coffee(old Cafe Crown stores), Virgin and Next are in the concept transformation process.
Supply
Since 1988, the number of shopping centers are increasing in Turkey. Since 2000, organized retail market development is speeding up. Tospecify, at the early 2000’s the number of shopping center was 47 and the gross leasable area (GLA) was 1.2 million sqm, in 5 years the number of shopping center was nearly doubled to 99 and GLA reached to 2.2 million sqm reached. In 2010, GLA reached to 6.6 million sqm. Currently, total 348 shopping senters, including shopping center opened in 2012, active all over Turkey. The accessibility of shopping centers is crucial to increase the foot fall and sustainability of the center. Important projects in Istanbul are stated below;
It is expected that 15 shopping centers will be developed until the end of 2012 excluding Trump Towers Mall, Buyaka, Soke Novada Outlet, and 4 other centers were opened in the first half of 2012. Currently, around 8.3 million sqm of Gross Leasable Area is expected to reach 11.8 million sqm by the end of 2015.
The smoking ban in indoor areas announced in 2008, open-space concepts gained importance which leads to changes and the transformation in the design of shopping centers. In addition, nowadays, the number of shopping centers and correspondingly the competition has increased. Some shopping centers have been affected negatively and challenges with high competition observed closing or turning to different functions.
According to the latest report of Kuzeybati, an alliance member of BNPPRE in Turkey, combining current projects with new mixed-use projects and the rise in the consumer confidence index compared to previous months caused an increase in consumer demand for retail. On the other hand, the increase in retail are a stock caused a horizontal figure in shopping centers’ footfall.
Online shopping, (e-commerce) is a new trend/tool to reach the customer directly via both direct websites of brands and private shopping clubs. This trend is expected to expand even more.
Retailer Demand
Firstly, shopping centers projects began to be developed in areas with high population, and then continued towards the secondary cities and regions. Recently, as well as the local retail chains expansions international retail chains have been active in Turkey market such as Bath and Body Works, Pinkberry, Victoria's Secret, Longchamp, Hermes, Douwe Egberts Coffee, Zippy, Jakadi, Okaidi-Obaibi, Aeropostale, Scotch and Soda, and the Penguin by Munsing wear. LaFayette and Carluccio’s are the other international brands which are getting ready to enter into market. On the other hand, Nando's and Best buy were with drawn from Turkey. Gloria Jeans, Caribou Coffee(old Cafe Crown stores), Virgin and Next are in the concept transformation process.
Supply
Since 1988, the number of shopping centers are increasing in Turkey. Since 2000, organized retail market development is speeding up. Tospecify, at the early 2000’s the number of shopping center was 47 and the gross leasable area (GLA) was 1.2 million sqm, in 5 years the number of shopping center was nearly doubled to 99 and GLA reached to 2.2 million sqm reached. In 2010, GLA reached to 6.6 million sqm. Currently, total 348 shopping senters, including shopping center opened in 2012, active all over Turkey. The accessibility of shopping centers is crucial to increase the foot fall and sustainability of the center. Important projects in Istanbul are stated below;
It is expected that 15 shopping centers will be developed until the end of 2012 excluding Trump Towers Mall, Buyaka, Soke Novada Outlet, and 4 other centers were opened in the first half of 2012. Currently, around 8.3 million sqm of Gross Leasable Area is expected to reach 11.8 million sqm by the end of 2015.
The smoking ban in indoor areas announced in 2008, open-space concepts gained importance which leads to changes and the transformation in the design of shopping centers. In addition, nowadays, the number of shopping centers and correspondingly the competition has increased. Some shopping centers have been affected negatively and challenges with high competition observed closing or turning to different functions.
Quelle: Kuzeybati, alliance member of BNPPRE
