Through the “Trade and Technology Empowerment for the Earthquake Region” Program, Hepsiburada Contributed to a TRY 3.5 Billion Trade Volume in the Region During the First Year After the Earthquake
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Insights
Examining the growth of Hepsiburada's merchant base post-earthquake reveals a robust expansion in a recovering economy. The addition of over 2,800 businesses transitioning to e-commerce indicates a significant shift in the regional market dynamics. This is a clear sign of digital transformation, driven by necessity, which could be a model for other regions facing similar adversities. The increase in trade volume to over TRY 3.5 billion underscores the resilience and potential of the local economy when supported by digital platforms.
The focus on women entrepreneurs is particularly noteworthy, as it aligns with global trends of fostering inclusive economic growth. The trade volume generated by these women-led enterprises contributes to the diversification and empowerment within the local business community. This could attract impact investors interested in socially responsible projects, potentially leading to further investment in the region.
The reported trade volume exceeding TRY 3.5 billion is a substantial injection into the local economy of the earthquake-affected region. The economic multiplier effect of this activity is likely significant, considering the number of active merchants and products sold. Such a program not only provides immediate economic benefits but also contributes to long-term economic development by building a sustainable e-commerce ecosystem.
Furthermore, the establishment of E-Commerce Specialization Centers is an investment in human capital. By equipping local merchants with necessary e-commerce skills, Hepsiburada is fostering a more competitive market environment. This could lead to increased productivity and innovation in the region, which are key drivers of economic growth.
The social responsibility activities reaching over 4,000 children and the educational initiatives for university students are indicative of Hepsiburada's commitment to community development. These programs help build a skilled workforce, which is essential for the long-term sustainability of the region's economy. The Promise for Tomorrow Training Program could potentially reduce youth unemployment and stimulate entrepreneurship, which are critical for social stability and growth.
Moreover, the integration of social programs with business objectives creates shared value, which can enhance the company's reputation and foster customer loyalty. This approach to corporate social responsibility can serve as a blueprint for other companies looking to contribute to societal well-being while also achieving business success.
ISTANBUL, Türkiye, Feb. 06, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), on the first year anniversary of the 7.8 magnitude earthquake that struck eleven cities in the southeast Türkiye on February 6, 2023, today announces the eleven months' results of its “Trade and Technology Empowerment for the Earthquake Region” program (the “Program”) for the period from March 6, 2023 to February 1, 2024.
Since the Program's launch in March 2023:
- The total number of active merchants operating in the earthquake region has reached approximately 16,400 with over 2,800 new businesses selling their products online through Hepsiburada.
- Active sellers in the earthquake region sold a total of 6.9 million products through 4.4 million orders, generating a trade volume exceeding TRY 3.5 billion.
- The trade volume generated by 3,299 women entrepreneurs and women's cooperatives reached TRY 272 million.
- In addition to its E-Commerce Specialization Centers in Adana and Hatay, Hepsiburada plans to open its third center in the first half of 2024. Through the E-Commerce Specialization Centers, Hepsiburada supports existing merchants and organizes training courses and programs for those who are new to the e-commerce market. Over a thousand merchants from the region have benefitted from such training courses.
- The Company has reached more than 4,000 children in the region through the Program's social responsibility activities.
- Hepsiburada, in association with the “Promise for Tomorrow Training Program”, organized “E-Commerce, Entrepreneurship and Marketing” courses for third and fourth year university students in the provinces affected by the earthquakes. To date, one hundred young people participated in the training program to commemorate the centennial of the Republic of Türkiye.
The Program is expected to last for two years as of its inception.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, and encompasses all statements, other than statements of historical fact contained in this press release, and include, but are not limited to, statements regarding Hepsiburada’s “Trade and Technology Empowerment for the Earthquake Region” program. These forward-looking statements can be identified by terminology such as “may,” “could,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to” and similar statements.
These forward-looking statements are based on management’s current expectations. However, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors and circumstances that may cause Hepsiburada’s actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including conditions in the U.S. capital markets, negative global economic conditions, potential negative developments resulting from epidemics or natural disasters, other negative developments in Hepsiburada’s business or unfavorable legislative or regulatory developments. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. For a discussion of additional factors that may affect the outcome of such forward-looking statements, see our 2022 annual report filed with the SEC on Form 20-F on May 1, 2023 (Commission File Number: 001-40553), and in particular the “Risk Factors” section, as well as the other documents filed with or furnished to the SEC by Hepsiburada from time to time. Copies of these filings are available online from the SEC at www.sec.gov, or on the SEC Filings section of our Investor Relations website at https://investors.hepsiburada.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing Hepsiburada’s views as of any date subsequent to the date of this press release. All forward-looking statements in this press release are based on information currently available to Hepsiburada, and Hepsiburada and its authorized representatives assume no obligation to update these forward-looking statements in light of new information or future events. Accordingly, undue reliance should not be placed upon the forward-looking statements.
About Hepsiburada
Hepsiburada is a leading e-commerce technology platform in Türkiye, connecting over 61 million members with approximately 211 million stock keeping units across over 30 product categories. Hepsiburada provides goods and services through its hybrid model combining first-party direct sales (1P model) and a third-party marketplace (3P model) with over 101 thousand merchants.
With its vision of leading the digitalization of commerce, Hepsiburada acts as a reliable, innovative and purpose-led companion in consumers’ daily lives. Hepsiburada’s e-commerce platform provides a broad ecosystem of capabilities for merchants and consumers including: last-mile delivery and fulfilment services, advertising services, on-demand grocery delivery services, and payment solutions offered through Hepsipay, Hepsiburada’s payment companion and BNPL solutions provider. HepsiGlobal offers a selection from international merchants through its inbound arm while outbound operations aim to enable merchants in Türkiye to make cross-border sales.
Since its founding in 2000, Hepsiburada has been purpose-led, leveraging its digital capabilities to develop the role of women in the Turkish economy. Hepsiburada started the ‘Technology Empowerment for Women Entrepreneurs’ programme in 2017, which has supported over 47.5 thousand female entrepreneurs throughout Türkiye to reach millions of customers with their products.
Investor Relations Contact
ir@hepsiburada.com
Media Contact
corporatecommunications@hepsiburada.com
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