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Turkish leadership drives MediaMarkt’s success in EU electronics market

May 12, 2024

MediaMarkt, a major player in the European consumer electronics sector, climbs to second place driven by Türkiye’s strong demographic advantages and effective leadership

Türkiye has rapidly emerged as a key player in the European consumer electronics market, with MediaMarktSaturn Retail Group’s Turkish operations rising from fifth to second place within a year.

Hulusi Acar, CEO of MediaMarkt Türkiye, credits the country’s vibrant demand for consumer electronics to its demographic and socio-economic dynamics. “Compared to Europe, our market demand is more vigorous,” he says, stressing the big young population and significant life events that drive electronics purchases.

Acar forecasts continued market growth, expecting to exceed $23.145 billion, propelled by sound economic policies and Türkiye’s demographic advantages.

Under the leadership of another Turkish executive, Faruk Kocabas, Spain has also ascended to third place, signaling the effectiveness of Turkish management across the MediaMarkt universe.

Furthermore, MediaMarkt Türkiye has set benchmarks in smaller store formats, particularly influencing strategies in Italy.

The Turkish market has seen the most growth in GSM and major home appliances, with air fryers, robotic vacuums, vertical cordless vacuums, scooters, and drones seeing the highest demand increases.

“MediaMarkt is not only leading the market but also acting as an early adopter, giving customers firsthand experience with these products,” stated Acar.

Looking ahead, MediaMarkt Türkiye plans to open its 100th store by July, demonstrating its commitment to investing in the country. With 98 stores across 31 cities and over 3,500 employees, the company is a significant employment generator.

By year’s end, Acar aims to expand the workforce to 4,000 employees, further solidifying MediaMarkt’s presence in Türkiye. Additionally, the MediaMarkt CLUB launched five years ago, has reached 6 million members, with a goal to add 1 million more by the end of the year.

Source: Newsroom

Last Updated:  May 31, 2024 5:38 PM