International e-Commerce and Turkish Brands
Selling on the global e-commerce markets is a great option for growth-minded companies. For example; there are 312 millions Internet users in US and Internet penetration amounts to 80.3%. In terms of device usage, there are 257.3 millions smartphone users and smartphone penetration amounts to 77%. On a global scale, smartphones are being more and more widely used for digital purchases. The total population of US is 327 millions.
Since the beginning of the second half of the 1990s, e-commerce has developed significantly throughout the world. The development of ecommerce has been driven by high-speed internet, computers, tablets, smartphones and other devices.
More and more each year, businesses are using the internet to exchange products across borders, they import and export goods on internet platforms. The boom in international e-commerce across borders has important implications for the Turkish and US economy and trade policies. With the right policies in place, e-commerce can boost both countries’ economic growths.
On the topic of international e-commerce, I wish to make three main points:
- International e-commerce is transforming the “how” of international trade, lowering costs and increasing volume.
- The expansion in international e-commerce fuels economic growth, both globally and at home. All-sized companies in particular stand to benefit from this boom in international e-commerce.
- Removing existing barriers to trade would be beneficial in enhancing these gains.
Research indicates that in 2020 worldwide transactions will signify expand more than 34% of international e-commerce. Similarly, it is anticipated that more than 1 billion people will make cross-border purchases online in 2020 (E-commerce Foundation, 2015).
The internet has allowed a growing number of Turkish brands to reach a global customer base. However unlike US & European enterprises, Turkish companies cannot easily establish a physical presence overseas or invest in the systems necessary to manage a global brand. Instead, the internet has allowed these micro-multinationals to reach global customers through their websites and common online marketplaces such as Amazon and eBay. They are able to process payments digitally, use 3rd party logistic solutions and/or ship products directly to individual customers.
International e-commerce creates new business norms and transforms the nations’ economic landscapes. Focusing on the social and economic benefits of Turkey’s adoption of international e-commerce, I state that a completely new e-business infrastructure should be built on digital technology. This will rapidly grow and extend the territory of the ‘new Turkish economy.’ Not only does international e-commerce drive economic growth, it also distributes the resulting benefits more evenly to every section of Turkish society.
As Mita Consulting USA Inc, we are ready to help creating the international e-commerce roadmap for Turkish brands.
The Turkey-U.S. bilateral trade volume was $20.6 billion in 2018. While Turkey’s exports to US came to $8.3 billion, its imports totaled $12.3 billion (Data from Turkish Statistical Institute (TurkStat).
Retail e-commerce sales in the United States from 2017 to 2023 (in million U.S. dollars)