BIM news

20 August 2019
Three of Turkey’s leading six grocery retailers, BIM, Migros Turk and Sok, reported sales growth rates between 25% and 40% for the first half of 2019. This is above the market’s 15% increase for the year that IGD estimates. These retailers managed to grow above the 15.7% price inflation, as reported by the Central Bank of Turkey, due to their strong store expansion, with all the retailers addi...
28 March 2019
Turkey’s Agricultural Credit Cooperative or Tarimsal Kredi Kooperatifi (TKK) will sell fruits and vegetables to national retailers. A101, BIM, Carrefour, Migros and Sok will buy agriculture produce from the TKK at no margin and are obliged to sell them on at the same price of purchase. This is to help subdue food price inflation, which reached over 30% in January 2019. This is part of tanzim s...
21 March 2019
BIM, A101 and Sok were the fastest growing leading Turkish retailers in 2018. The discounters were able to grow dynamically in a high inflation economy, at a rate of between 10% and 25%. Whereas, multi-channel retailer, Migros has improved its profitability. BIM, A101 and Sok lead growth because they are in the best position to offset inflation The three retailers have a high share of ...
20 February 2019
We visited three of Turkey’s leading discounters, BIM, A101, and Sok, to understand what is driving their above market growth. In this article we highlight five strategies driving their growth and helping them to attract shoppers and grow their market share. 1. Growth strategy driven by store expansion The discounters are growing faster than the market. This is due to the high number of sto...
23 August 2018
BIM, Migros, and Carrefour have reported double-digit sales growth for the first half of 2018. We expect the strong revenue growth to continue in the second half due to increased inflation in the grocery market, driven by the drastic decline of the Turkish Lira. BIM and Migros report good financial results Inflation has been over 10% so far in 2018, boosting retailers’ revenue. BIM reported...
09 November 2017
We report on the latest results at Turkey’s leading retailers, BIM and Migros Ticaret, in the first nine months of 2017. Both retailers report improved results, we look at what drove performance and where the focus both retailers will be in 2018. BIM’s improved results driven by inflation… In the first nine months of 2017 BIM reported a year-on-year sales growth of 22.5% to TRY 18.2bn (€ ...
16 August 2017
Turkey’s top two retailer’s, BIM and Migros Ticaret, reported improved sales growth in the first half of 2017. With Turkey’s inflation reported to be higher that year, it is expected to drive almost half the growth rate for H1. We illustrate the force behind the two retailers’ better 2017 sales growth, beyond inflation, and the impact on the two retailers’ guidance target for 2017. Migros Tic...
01 June 2017
Turkey’s second largest grocery retailer, Migros Ticaret, indicated its intention to enter Pakistan. According to Migros Ticaret’s parent company, Anadolu Group, this is part of an international expansion strategy to build on their current presence in Pakistan with its soft drink bottling subsidiary Coca-Cola Icecek. Migros is not new to international operations International expansion is...
09 March 2017
Leading Turkish retailer BIM has reported a 15.2% increase in revenue to TRY20.1bn (€5.1bn) for 2016. Turkey represents the largest share of sales, while expansion in its foreign operations resulted in 25% sales growth. What’s driving BIM’s growth? At almost 10% inflation reported for 2016 and real GDP growing at just over 5% it is no surprise to expect a double-digit growth rate amongst re...
14 February 2017
BIM recently stated that the executive board were authorised to begin research work on the Iranian market to define its investment potential and the opening of a store. This is a business-as-usual venter for the Turkish retailer as it has not been shy of investing in politically volatile markets in the past - as illustrated with its entry of a post-Arab Spring Egypt. Why Iran now? Following...