Turkish retailers see consumer confidence return as inflation eases

The Turkish retail sector is showing signs of normalization, with consumer behavior in the second quarter reflecting a growing sense of economic stability, according to the Turkish Retailers Federation (TPF). Observations from approximately 10,000 member stores nationwide indicate a notable shift in shopping patterns.

During the second quarter, consumers began to diversify their purchases beyond essential food items. Shopping baskets are now including a wider variety of products, suggesting that consumers are addressing needs they had previously deferred. This trend is accompanied by an observed growth in the size of shopping baskets, particularly from local chain markets.

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Our second-quarter field assessments show that the slowdown in food inflation is also reflected in our citizens' shopping behaviors. The long-standing 'fear of tomorrow's price increase' is largely receding, and consumers are now shopping based on actual needs rather than solely to hedge against price hikes.

Ömer Düzgün, President of the TPF, stated that the economic normalization is increasingly palpable not just on store shelves but also in consumer psychology. He noted that the positive effects of the current economic program are becoming evident on the ground. "Our second-quarter field assessments show that the slowdown in food inflation is also reflected in our citizens' shopping behaviors," Düzgün said. He added that the long-standing "fear of tomorrow's price increase" is largely receding, and consumers are now shopping based on actual needs rather than solely to hedge against price hikes.

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This change is seen as a significant indicator of both renewed consumer confidence and market stabilization.

Düzgün highlighted that local chain markets are observing an increase in consumer confidence. Previously, shoppers were limited to essential goods, but now, alongside basic food items, snacks, personal care products, and other categories are reappearing in shopping carts. This change is seen as a significant indicator of both renewed consumer confidence and market stabilization.

The TPF president emphasized the crucial role local chain markets played during the period of high inflation, supporting consumers by maintaining supply chains, running promotions, and managing shelf prices. He stressed that these local chains act as a vital balancing force in preserving price stability. While acknowledging that challenges remain, particularly cost pressures on certain product groups, Düzgün stated that the overall picture indicates a significant slowdown in price increases for basic food items, suggesting that the psychological threshold of food inflation is being overcome.

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Local chains are not just businesses selling products; they are an important balancing element that contributes to maintaining price stability.