Turkish Success of Jewellery Sales to Tourists - PowerPoint PPT Presentation

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  1. Turkish Success of Jewellery Sales to Tourists 21stFeb 2005

  2. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  3. Outline: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • EU have decided that the accession negotiations with Turkey will start in 2005 which might be as long as 10 years • Inflation is moving towards one digit level after several decades • Exchange rate is around mid 2001 levels • 6 zeroes are dropped from TL (YTL)

  4. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  5. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  6. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  7. 2005 Tourist market investments Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • 50 New hotels under construction • 50,000 New beds will be ready for 2005 summer season

  8. bought 36 units of Airbus and 15 units of Boeing airplanes in July 2004. Delivery will be in 2005. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  9. Outline: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Third biggest gold consumption after India and USA • Largest gold coin market and coin manufacturer in the world • Third biggest jewellery manufacturer after India and Italy

  10. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  11. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  12. Seasonality of incoming foreign tourists Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook Source: SIS

  13. Regional Trends in Incoming Tourists Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  14. Traveling by Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  15. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  16. What did they hear beforehand (47% heard about Turkish gold): Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Cheaper 72% • Special Turkish designs 34% • Better workmanship 32% • Bigger variety 24% Research by Piar-Gallup

  17. Whom did they hear it from: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • A friend 71% • The travel agency 26% • Previous visitors 26% • Promotional brochures 24% Research by Piar-Gallup

  18. After they saw the jewellery what did they think? Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Not expected that cheap 72% • Not expected that much variety 34% • Not expected that many 26% • Expected them to be cheaper 13% Research by Piar-Gallup

  19. Purchase decision: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • After they arrived 60% • Decided before 40% Research by Piar-Gallup

  20. Top motives for the tourists who decided to buy before their trip: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Cheaper 73% • Special Turkish designs 10% • Better workmanship 33% • Better selection 25% Research by Piar-Gallup

  21. Top motives for the tourists who decided to buy after they arrive: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Attracted me 49% • Realized they were cheaper 39% • Good salesman help 30% • Lot of varieties 26% • Better workmanship 22% • Special Turkish designs 16% Research by Piar-Gallup

  22. Self purchase or gift: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Self 80% • Gift 20% Research by Piar-Gallup

  23. Adornment or store of value: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Adornment 90% • Store of value 10% Research by Piar-Gallup

  24. Types of jewellery bought: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Ring 34% • Chain 32% • Necklace 25% • Earring 23% • Bracelet 17% • Pendant 10% Research by Piar-Gallup

  25. 78% of the tourists said that they have never bought any jewellery from another country they visited. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook Research by Piar-Gallup

  26. Jewellery retailers for tourists: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • 6,000 in Mediterranean coast • 1,000 inside Grand Bazaar in Istanbul • 1,000 in other tourist areas

  27. Mega jewellery stores for tourists: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • 40 Jewellery mega-retailers • With average 3,000sqm shopping area • With an average of 100 salesmen

  28. Mega jewellery retailer stats: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Average 100,000 tourists visit annually • Average 20,000 sales per year • Average 35,000 items sold per year

  29. Mega jewellery retailer stats: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Average item price US$1,000 • Main customer is German and Russian with 30% share each • Rest is Europeans (Swiss, Austrian, Belgian, Dutch) with some Americans

  30. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  31. Direct Exports vs Tourist Sales Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Turkish jewellery manufacturers are the second biggest exporter in the world • The tourist sales and direct exports are helping one another by creating awareness on Turkish jewellery brands • Summer tourist retailers are catering their customers in their country of origin in winters

  32. Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook

  33. 5 Year Targets: Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook • Become one of the first 5 destinations in number of tourists • Become one of the first 5 countries in tourism revenues • Rate of increase in gold jewellery sales to tourists faster than the increase in tourism revenues

  34. ...during your next vacation, we wish all of you a very happy holiday in Turkey, in the cradle of civilizations, enjoying the turqoise beaches of Cleopatra or skiing and hiking mount Ararat or playing golf or simply sipping your Turkish coffee and enjoying your Turkish delight and buying lots of Turkish jewellery making your holiday unforgettable... Turkish Economy Turkish Tourism Turkish Jewellery Market Tourist Jewellery Market Tourist Tourist as Jewellery Buyer Tourist Market Retailers Jewellery Exports Outlook