What Can Be Expected In Luxury Consumption Through E Commerce In 2023 (2)

What Can Be Expected in Luxury Consumption Through E-commerce in 2023?

TOBB E-commerce Assembly Member and Ticimax Founder CEO Cenk Çiğdemli, who expressed that there has been a growth in terms of quantity when comparing 2022-2022 and 2023 in luxury consumption through e-commerce, stated the following:

“For example, in the luxury textile clothing category, the turnover figure in 2021 (according to data from approximately 15,000 e-commerce websites) was 1,743,274,549 Turkish Lira, while this figure rose to 3,685,195,334 Turkish Lira in 2022. In the first 8 months of 2023, it reached 4,835,219,070 Turkish Lira. By the end of the year, we expect this figure to reach at least 7 billion Turkish Lira, doubling last year’s figure. When we look at the annual average basket amounts in the luxury consumption category, for example, in the watch-accessory segment, the 2021 figure was 9,983 Turkish Lira, while the 2022 figure was 28,318 Turkish Lira. The average basket amount for the first 8 months of 2023 is 34,334 Turkish Lira. Considering special shopping festivals such as Black Friday, Cyber Monday, and New Year’s shopping, we believe it will reach at least 60,000 Turkish Lira by the end of the year, doubling last year’s figure. In the jewelry category, the annual average basket amount in 2021 was 3,549 Turkish Lira, in 2022, it was 7,121 Turkish Lira. In the first 8 months of 2023, this amount reached 16,634 Turkish Lira. I believe it will grow by at least three times as much as last year by the end of the year. In the luxury fashion category, the annual average basket amount in 2021 was 616 Turkish Lira, in 2022, this figure reached 1,221 Turkish Lira. In the first 8 months of 2023, it rose to 2,364 Turkish Lira. It is evident that this category will also at least triple last year’s figure by the end of the year.”

What Can Be Expected in Luxury Consumption Through E-commerce in 2023 (3)

The ranking of the most ordered sectors in the luxury category, from highest to lowest, is as follows: textile clothing, cosmetics and beauty, gifts and accessories, lingerie, jewelry and jewelry, motor vehicles and automotive spare parts, hobbies, home and garden furniture, games, appliances, computers. In terms of luxury brands, the categories with the highest annual average basket amount are as follows: watches and accessories, computers, jewelry, furniture decoration, luxury fashion, and lingerie.

What Can Be Expected in Luxury Consumption Through E-commerce in 2023 (1)

“We Expect a 15 Percent Quantity Growth”

TOBB E-commerce Assembly Member and Ticimax Founder CEO Cenk Çiğdemli, who evaluated the data, stated the following: “The data shows us that when we exclude the inflation difference in luxury consumption, we will see growth in quantity by the end of the year and an expansion in luxury consumption habits. While prices, costs, and inflation are moving upward, the turnover of luxury consumption has already reached the level of the previous year. We are about to enter the period when e-commerce is most active. Taking into account special campaigns and shopping festivals such as Black Friday, Cyber Monday, and New Year’s shopping, we expect the quantity to exceed last year’s figure by at least 15 percent by the end of the year. We expect at least a 15 percent quantity growth. This also demonstrates the growth rate of luxury consumption through e-commerce independent of inflation.”


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