Expectation of new hikes brings consumer demand forward

The exchange rate increase has activated the ‘expectation inflation’ again. Sales have increased by 20 percent in many brands. The depreciation in the TL has also revived tourist shopping.

The retail sector has entered an active period with the expectation that the rising exchange rate and the increase in the minimum wage after the election will be reflected as hikes in product prices. Consumers, who brought their needs forward in order not to be affected by possible upward price movements, reactivated the expectation inflation.

According to the news of Yener Karadeniz from the EKONOMI newspaper, the number of shopping mall visitors increased by 15 percent. The depreciating TL also revived tourist shopping.

MANY COMPANIES INCREASE SALES INCREASE BY 20 PERCENT

Brands broke daily sales records. LCW’s one-day sales increased to 1.3 million units. Many companies increased their sales by close to 20 percent compared to the same period last year on a unit basis.

Sector representatives stated that it was inevitable that the increase in the exchange rate would be reflected as a hike in imported products, while commenting that the rate of increase in domestic products would be limited and in the longer term.