Marriage hurts the pocket: The average cost of a wedding and setting up a house, which was 300 thousand TL last year, is 600 thousand TL this year – Last Minute Economy News

As the weather gets warmer, the wedding season begins. However, high inflation shocks couples who are shopping for a wedding. While last year the cost of building a house with average quality items was around 300 thousand TL, this year it reached 450-500 thousand TL. When we add the wedding expenses, the cost of getting married approached 600 thousand TL. While prices were increasing, the installment limitation in line with the tightening policies in the economy caused a reaction from white goods and furniture manufacturers. Manufacturers state that the demand for wedding shopping has decreased compared to previous years and citizens are turning to cheaper products. An average of 700 thousand couples get married every year in Turkey.

Wedding shopping also starts in spring. However, inflation, which has increased by nearly one hundred percent this year, is the biggest problem for couples who will get married this year. Fadıl Hekimoğlu, Chairman of the Istanbul Chamber of Commerce (ITO) Electrical Home Appliances Commission, stated that activity in shopping has begun. However, it is stated that it is not at the expected levels.

Hekimoğlu said, “It is also lower than last year. Prices increased by around 60-65 percent in white goods. “A little more in furniture,” he said. Hekimoğlu also stated that the installment limitation puts a strain on the consumer and said: “In retail or bulk purchases, especially in dowry purchases, the low number of installments and the difficulty of credit put a great strain on the consumer. There is a need for relaxation in this regard. At least 12 installments can be made. Card commissions can also be reduced for tradesmen. Public banks should lead in this regard. On the other hand, there may be a VAT reduction on essential products. “VAT, which is 20 percent, can be reduced to 10 percent on products such as refrigerators and ovens.” said.

INTEREST IN CHEAP PRICES IS INCREASING

Hekimoğlu also said that consumers are turning to middle and lower segment products and said, “The price difference between them used to be 3-4 thousand TL, now it is 15-20 thousand TL.” Stating that basket prices in the home furniture category have increased considerably in recent years, Konfor Mobilya Executive Board Member Akın Can gave the following information: “This situation causes purchasing difficulties for consumers. Consumers can reduce products with high basket averages to their monthly purchasing power with high installment options. For this reason, there should be no extra limitation on installments. Although we try to offer competitive and accessible pricing to our consumers, our lists are updated within 30-60 days due to increasing costs. “Due to the increase in costs, there is a need to update the list almost every month-end.” he said.

FOREIGN EXCHANGE INCREASE WILL AFFECT

Stating that the installment limitation negatively affects the consumer, Doğanlar Furniture Group CEO Mustafa Karamüş said: “In order to minimize this impact, we are trying to diversify the payment options that make the lives of our customers easier with financial institutions. As for prices, we only reflected the impact of minimum wage increases on costs this period. “Since increases in the exchange rate will affect our costs, there will be a controlled increase.” Management of small home appliances brand Arzum

Board Chairman Murat Kolbaşı said, “In our segment, the fear of ‘prices will increase and installments will decrease’ kept sales alive. Sales were high in the first three months of the year. “We have Mother’s Day ahead of us and that will continue to keep the demand alive,” he said.