Turkey’s technology retailer Teknosa has reported Q2 growth of 580% in e-commerce and rising operating profit despite the pandemic
Teknosa, a subsidiary of Sabancı Holding, achieved TL 955 million turnover and TL 27.5 million operating profit in the second quarter of 2020 thanks to investments made in technology and customer experience, it says. The reopening of stores in June had a significant positive impact on the strong results.
While the customer-focused transformation and the investments made in digitalization with the motto: "Teknosa of the New Generation", had a positive impact on the second quarter results in terms of turnover, basket growth, and operating profit, Teknosa.com and the mobile platform achieved record-breaking results during the pandemic. Teknosa attained a nearly six-fold growth in online sales year-on-year in the second quarter and increased its online turnover for the first half to TL 559 million.
Regarding the financial results for the second quarter of 2020, Barış Oran, Chairman of Teknosa, said, "Teknosa achieved stronger results despite keeping all stores closed due to pandemic throughout April and May. We increased our market share, strengthening our position in the sector. We adapted to the changes quite rapidly thanks to our sustained efforts in customer-oriented transformation and our investments in digitalization. We focused on serving our customers well through better predicting their preferences through data-based decision making. Our services that respond to changing customer needs ensured that we stood out in the competition. The increase in consumer confidence in June had a favourable impact on the performance of our stores. During the pandemic, demand for technology products kept up along with basic needs. We expect this trend to persist, positively affecting the growth of the sector. As Teknosa, we will reach our customers more effectively through our widespread store network and online channels by accelerating our investments for providing the best shopping experience. Providing seamless omnichannel experience to our customers will continue to be our focus."
Bülent Gürcan, Teknosa General Manager, said, "Each of the months of April, May, and June had different stories and generated different lessons. In this period, we once again noticed how crucial technology has become in everyday life. While taking top-level health and safety precautions for the well-being of our employees and customers, we focused our attention on continuing our business and meeting the needs of our customers. To present better online services to our customers, we put in place offerings like live support (livechat), bundle product sales, and tele-sales. Our online channels during the time we were self-isolating at our homes, and our widespread network of stores in Turkey during the process of normalization massively improved their performance through actions taken."
