Retailers forecast a 40 percent discount on prices within 1 month

The Deputy Chairman of the Turkish Retailers Federation (TPF), said that there was a 20-30 percent discount on products on grocery shelves at the first stage adding “We predict that prices will go down by 40 percent after a month.”

The Deputy Chairman of the Turkish Retailers Federation (TPF) who made assessments about the expectation of price reductions in the markets after the fall in the foreign exchange rate, said that they expected a 40 percent discount within 1 month.

Noting that there were already discounts of up to 30 percent, he continued: “This is like a chain effect. When a retailer applies a discount, there is competition. When one of them reduces the price of the oil, the other starts doing the same. This way all the grocery stores in Turkey are forced to cur down on prices otherwise they lose customers. Konya became a pioneer in this regard. Konya was the first to reduce prices. The price of products on the shelf in the grocery store fell by 20-30 percent at the initial stage. So we are predicting that prices will go down by 40 percent in a month’s time, and I would also argue that they will go down. At the moment, prices have gone down by close to 30 percent and will continue to go down. Because they have to. It started with 30 percent at first, because the new-priced products are not finished yet. If the exchange rate continues like this for a month, they will go down another 40 percent. This includes basic food and cleaning.”

halktv.com.tr/ekonomi/perakendeciler-1-ay-icinde-fiyatlarda-yuzde-40lik-indirim-ongoruyor-658500h