Cashless shopping will accelerate the online furniture industry

Cashless shopping will accelerate the online furniture industry
31 March 2020

Measures taken against the coronavirus outbreak are rapidly digitizing payment preferences. Cashless shopping growth is expected to double the online furniture industry.

*** This release is originally published in Turkish.
Google Translate Application translates the content you see on this page.***

ISTANBUL (TR) - As part of the measures taken against the coronavirus, declared as a global epidemic by the World Health Organization, citizens begin to minimize all activities that require physical contact in crowded environments, while their payment habits are changing rapidly. Consumers who do not want to take risks such as shopping carts, cash registers and payment systems, cash money contact in physical stores, prefer digital payment systems. Cashless society in the face of the increasingly widespread notion that this table is expected to gain significant momentum online furniture sector in Turkey.

“Cashless society can double online furniture sales”

Stating that the orientation to digital payment systems will further increase mobility in the online furniture sector in Turkey, founder Murat Erat said, “After the outbreak, many people who spent almost all of their days in their homes took action to make necessary renovations and complete deficiencies in their habitats, which they began to use more often. The risk of viruses carried by physical stores and the theme of money has increased the demand for online furniture stores, which offer the advantage of remote payment. Online furniture sales in Turkey reached $ 1 billion 56 million in 2019. Under these conditions, where cashless society is becoming increasingly common, we anticipate that online furniture sales in Turkey could increase by up to two times.”

Turkey will compensate for the volume reduction resulting from China's online furniture sector

Emphasizing that the balances in the sector have changed after coronavirus outbreak began in the world's furniture giant China, Murat Erat stated that, China’s demand for online furniture shopping will shift to different countries, especially Turkey. Murat Erat said, “Online furniture sales worldwide are expected to increase by 10% in 2023 and reach 289.3 billion dollars in volume. The largest share of this volume was China, which had a volume of close to $ 80 billion in 2019. The United States was in second place with a volume of $ 44.5 billion. However, quarantine measures in these countries in the wake of the corona outbreak have both hampered production and significantly reduced demand for China in particular. Therefore, a serious decline is expected in the volumes they have in the sector. Turkey is one of the countries with the potential to compensate for this decline.”