Turkey, a beautiful country between 3 continents, home to many ancient civilizations across centuries, with it's 13 million young population, %74 internet penetration rate and 650 billion dollar GDP is a country with high potential to increase it's e-commerce and export.
From our experience and market analysis we realized the main problem: the businesses can't make sales.
Yeah. Big observation.
The main reason is because of the purchasing power and the value of the local currency. But we realized in the selected companies we analyzed the products are still high quality despite low sales. We eliminated the companies that started using cheap material to compensate and lower the price therefore sell more at cheap stores like BİM and A101 ( markets that sell unknown brands at wholesale prices therefore appealing to the public ).
The solution? Simple. Export.
Because of the Lira / USD arbitrage a product that can't be sold here for the original price in Turkey is sold at 3 times the price abroad, with customers thinking it's in a massive discount. Customers are happy because they think they got value, companies are happy because they sell at 3x - 5x the price on a good day, and we are happy because we take commission. We have a flexible business model based on the sizes of companies we work with, some we make a yearly deal, for some we agree on a %15 - 20 commission.
We choose and monitor the companies carefully before working with them, to be very open with you, it's because a wrong product can hurt our reputation as well as lower our general image. Even if it has huge margins and can generate incredible gains in a short time, we are aiming for the long game. We didn't study in the best university to get short term gains. Me as well as my co-founder aim for long term and a stabile growth.
This is Haluk Gül, co-founder of Bilpengo, and do contact us if you have any questions.