49.3 percent of retailers expect a decrease in sales.

The Turkish Economic Policy Research Foundation (TEPAV) Retail Confidence Index was announced.

Thus, the index, which received a value of -16.7 points in October with a decrease of 24.4 points compared to the same period of the previous year and 22.9 points compared to the previous month, fell to the lowest level observed since August 2021.

The percentage of retailers saying that the business situation has worsened in the last three months increased from 7.1 percent to 58.2 percent.

Likewise, the rate of those who expect a deterioration in their business in the next three months increased from 8.7 percent to 49.3 percent.

The main reasons for this increase were the increase in costs, the increase in sales prices, the decrease in purchasing power and the contraction in demand.

Furthermore, market stagnation and cash flow difficulties are among the factors affecting negative expectations.

THE GREATEST DECLINE IS IN THE EASTERN BLACK SEA

The regional analysis showed that retail trade confidence declined especially in the eastern Black Sea region.

Another notable point in the monthly change of the index was the change of 12.1 points indicating that current stock levels were below normal.

Although this situation indicates the existence of some positive elements, the general panorama maintains the weight of other factors that have a negative impact on the index.

SIGNIFICANT DECREASE IN FURNITURE FOR INTERIOR USE

When evaluated by subsectors, a more significant decline in retail confidence was observed in the “Furniture, Lighting Equipment and Household Products” sector compared to other sectors.

In October 2023, compared to the same period last year, “others (gas stations, pharmacies, perfumeries, hardware stores, glassware, stationery, etc.)”, “appliances, radio and televisions” and “groceries that sell more than one type of product”, while the variation in the “and large stores” sectors was higher than the average, “motor vehicles”, “textiles, clothing and footwear”, “food, beverages and tobacco products” and “furniture, lighting equipment and household products sectors were below average.