FOR over two years, the COVID-19 pandemic has weighed on economic activity in Turkey, where retailers expect the e-commerce business could boost consumption for shopping in November amid sluggish economy. The country’s major e-commerce firm Trendyol, backed by the Chinese internet giant Alibaba, and online retail website Hepsiburada were offering discounted prices for the shopping festival that fell on Nov. 11. This shopping bonanza is a boon for online retailers who are aggressively promoting their products on every digital platform. Turkey’s annual inflation is under 20 percent, and the Turkish currency has lost nearly a quarter of its value since the start of this year. The Turkish lira has been hitting new record lows, triggering worries about higher inflation in the country. In the face of sluggish economy, experts expect that November’s shopping spree would boost the sales of both physical and online retailers by as much as 60 billion liras (US$ 6 billion). The clothing, cosmetics, consumer technologies and furniture sectors will be the main beneficiaries of the shopping season, according to analysts. According to official data, in the first half of 2021, Turkey’s e-commerce business grew 75.6 percent compared to the same period last year. The volume of e-commerce is expected to exceed 400 billion liras this year, according to analysts. (Xinhua) | 