Turkey’s only listed e-commerce platform Hepsiburada will prioritize profitability over fast growth And step up Customer retention efforts who Complete hit through high rates of inflation.
economic inflation in Turkey hit 24-year high of 85.5% in October, consumer focus sharpened on costs with Increasing numbers are turning to loans or credit cards to pay for more expensive goods.
investor appetite for fastcostly and growth he have also dwindled with interest rates rise.
“My job here is to improve profitability,” new Hepsiburada CEO Nilhan Unal Göktekin told reporters late Wednesday.
Gökcetekin said path to improved profitability began with Customer retention through company loyalty program. He. She also I started to make faster payment and new lending options late last year.
“We are the only e-commerce company with a nationwide payment license,” Gökçetekin said, adding that it plans To sell payment services to merchants outside populace.
Hypsiporada also plans to increase sales of more Non-electronic profitable itemsafter share of total Sales increased by two points to 42% last year.
The total size of the goods, scale of total online Sales, up 3.7% last year after effect of Inflation has been stripped outaccording to A.N earnings The report was released on Wednesday.
Order numbers grew by 50% and active The number of customers increased by 7.9% over 2021.
However, Hepsiburada net The loss widened to 2.9 billion Turkish liras ($152 million). in 2022 from 2 billion TL year earlier, while earnings Before interest, tax, depreciation, and amortization (EBITDA) loss of 2.6 billion of the 3.7 billion loss in 2021.
Company reports results in economic inflation-adjusted terms Turkey is also classified as hyperinflationary economy for every international accounting rules.
You expect the break-even point to occur at the EBITDA level in the first quarterunmodified for Inflation, though deflationary in demand After a big earthquake in February. Comparing with Loss of 7 million TL in EBITDA in the last quarter of 2022.
E-commerce is still growing in turkey. Total retail sales increased by 114% to 4 trillion TL ($210.10 billion) last yearand with E-commerce accounting for 11% share, industry data showed.
