German electronics retailer MediaMarkt expands into Türkiye as online sales grow 400%

It is reported that Media Markt's online sales in Turkey increased by 400% in 2020, and it opened three new offline stores during the epidemic , bringing the total number of Media Markt's offline stores in Turkey to 80.

Yenal Gükyildöm , CEO of Media Markt Turkey, said: “We have been growing our business at a solid pace, strengthening our in-store experience and investing in online channels. With the successful implementation of multiple projects, our growth this year has exceeded our total growth in the past four years, and online sales have increased fourfold.”

Yenal also mentioned that Turkey is the fastest growing country for the group in terms of online sales and total sales in countries where Media Markt operates. Data released by Ceconomy, Media Markt's major shareholder, showed that even though Media Markt had to close its offline stores in Turkey due to the epidemic, Media Markt Turkey still achieved a good result of 20.8 billion euros at the end of the 2020 fiscal year due to strong consumer demand, successfully increasing its turnover by about 10%.

For this year, Yenal said they will continue to build on their success, "focusing on improving customer satisfaction, expanding product categories, expanding store network, improving multi-channel efficiency and improving services."

In addition, Yenal said that Media Markt will enter four new cities in Turkey and open 10 new stores in 2021, providing Media Markt services to 90 stores in 31 provinces in Turkey. To this end, Media Markt has also invested 100 million (about 84.64 million RMB) in hiring employees.

Media Markt was founded in Germany in 1979. It is the largest electronics retailer in the world and Europe after Best Buy in the United States. Its business scope covers the whole of Europe and some Asian countries. Media Markt entered the Turkish market in 2007.

People who are familiar with the company should know that Media Markt actually opened stores in China . In 2010, Media Markt opened its first flagship store in Shanghai, and subsequently opened six other branches in China. However, the good times did not last long. Due to fierce competition, high costs, and difficulty in making profits, Media Markt announced its withdrawal from the Chinese market on March 11, 2013.

middle East

Türkiye