Minors took a breather with the e-commerce law

The new consumer-friendly e-commerce law, which aims to prevent monopolization in the market and thus enable small investors to grow, started to show its positive effects in its first three months. Hepsiburada CEO Nilhan Onal Gökçetekin said that the e-commerce sector is growing in a healthier way thanks to the fair and transparent competition conditions brought by the regulation. “We see it as a law that gives everyone the opportunity to breathe and grow,” said Gökçetekin, adding, “Having healthy and rational competition is beneficial for everyone. The e-commerce law has been discussed and supported by the industry in many parliaments. Türkiye also started to see the positive effects of the law. Small companies have taken a breather and have already achieved significant growth figures. Its impact on the growth rate of the entire sector and especially small companies was positive in 2023, when it was partially in force. “We are still at the beginning of the implementation,” he said.

MONOPOLIZATION WAS PREVENTED

Pointing out that despite different blocking attempts, the Constitutional Court has twice confirmed the conformity of the law, which aims to prevent monopolization, with the Constitution and the public interest, Gökçetekin said, “Similar laws are being followed one after another in the world, following Turkey, and so are the United Kingdom and the European Union.” implemented similar practices. Because fair competition is good for everyone. “We see that healthy competition in the sector is for the benefit of customers and sellers, and therefore for Turkey,” he said.

104 PERCENT GROWTH SUCCESS IN 2023

Stating that they achieved success in all financial and operational indicators of the company while increasing their sales volumes above inflation, Gökçetekin also noted that they have become the most recommended e-commerce brand in the last two years. Nilhan Onal Gökçetekin, who met with members of the press at iftar in Istanbul, evaluated the financial results of the company as follows: “We closed the year 2023 with a growth rate of 104 percent. Our company completed the year with 11.9 million active customers. The order frequency per customer increased by 44 percent to 9.5 by the end of 2023. Thus, while our number of orders increased by 41 percent to 113 million in 2023; Throughout the year, we delivered approximately 4 orders to customers every second. “Within the scope of the Trade and Technology Power Program for the Earthquake Region, the number of sellers in the region exceeded 10 thousand and the total trade volume from the region exceeded 4 billion TL.”

Hepsiburada CEO Nilhan Onal Gökçetekin also touched upon the issue of public offering in Turkey and said, “We are proud to be the first and only Turkish company to represent Turkey on the world technology stock market Nasdaq. There are many questions and demands from investors regarding public offerings in Turkey. “As company management, we are evaluating this strategic option thoroughly,” he said. Gökçetekin also said the following about payment facilities: “Hepsipay offers a great opportunity to retailers with its 15 million customers, we are by far the market leader in maturity solutions. There is no other platform in Turkey that offers as many diverse financial solutions as we do. Our difference is that we are a fintech that includes all solutions.”