Household expenditure on home goods in Turkey has exhibited a significant upward trajectory from 2013 to 2023, reaching 1,178.3 billion New Turkish Liras in 2023. Historically, the growth rates have varied, with notable slowdowns in the mid-2010s and explosive growth occurring in recent years. For instance, the year-on-year growth rate surged from 111.83% in 2022 to 51.75% in 2023. The five-year compound annual growth rate (CAGR) from 2018 to 2023 stands at an impressive 44.64%, highlighting substantial market expansion.
Looking ahead, household expenditure on home goods in Turkey is expected to continue its robust growth, forecasted to reach 3,135.2 billion New Turkish Liras by 2028. This translates to a forecasted five-year CAGR of 14.72%, indicating a steady yet significant increase. Key factors that may influence future trends include economic stability, inflation rates, consumer confidence, and technological advancements in home goods.
