ISTANBUL, Feb. 18, 2021
Teknosa reached its all-time high performance in 2020, posting TL 5.6 billion in revenues and TL 85.3 million in net profit – an impressive turnaround from TL 148 million net loss a year ago. The company will double investments with a focus on technology.
ISTANBUL, Feb. 18, 2021 /PRNewswire/ -- Teknosa, the leading technology retailer and e-commerce platform in Turkey, achieved record results in 2020. Thanks to a comprehensive transformation program called "Teknosa of New Generation" launched back in mid-2019, the company managed a successful turnaround despite the global COVID-19 pandemic. The company's performance improved quarter by quarter and reached its peak in 4Q20.
Teknosa increased its revenues by 36 percent to a record-high TL 5.6 billion, while recording TL 85.3 million in net profit, up from the net loss of TL 148 million a year ago. The company's online revenues grew 3.6-fold annually to exceed TL 1 billion. As a result, e-commerce's share in total retail revenues soared from 7 to 19 percent.
Teknosa plans to expand the scope of investments and diversify the company's technology base in 2021.
"Customer experience and technology are our future"
Barış Oran, Chairman of Teknosa, shared the news of upcoming investments in a press conference alongside an evaluation of the company's 2020 performance. "2020 was an unprecedented year due to the pandemic. However, we did not compromise on our objectives and continued with great determination on our comprehensive transformation program," announced Oran. "This transformation revealed the significance of using big data accurately and becoming more customer-oriented than ever before. Our revenues and profitability stepped up since mid-2019 and improved each subsequent quarter. Our excellent execution brought us the best performance of the last 20 years," Oran added. "For us, 2020 was marked by a successful turnaround, whereas 2021 will be a year of investments. We plan double our investments. We have several agenda items on our strategic roadmap. We aim to place our e-commerce business at the core of our omnichannel experience. We will excel our in-store digital competences and data analytics capabilities. We will also pursue new growth opportunities. Our investments will accelerate progress, so that we can shape the future."
"Consistent performance enabled by digitalization and innovation"
Bülent Gürcan, Teknosa General Manager, highlighted the company's data-based omnichannel business model, which enabled Teknosa to rapidly meet changing customer needs and expectations during the pandemic. "The pandemic accelerated technological developments and brought digitalization to the forefront in every area. Demand for products grew as customer expectations shifted," noted Gürcan. "Today, strong presence in e-commerce and omnichannel, digitalization, in-depth customer experience, responsiveness and reliability are keys to success. Thanks to the successful steps we took as part of our 'Teknosa of New Generation' program, we were able to rapidly adapt to changing market conditions and continue to offer uninterrupted, high-quality services. While ensuring a safe shopping environment, we made a key difference by diversifying the channels in which we communicate one-to-one with our customers. For the first time in Turkish retail sector, we rolled out a virtual store experience via the Video-chat application on teknosa.com. In addition to our 'Click & Collect' - buy online, pick up in store option, which we have been offering customers for many years now - we launched a 'Click & Drive' curbside pickup, another pioneer service in Turkey. Meanwhile, we evolved our product range in line with customer needs. Our agile organization and robust infrastructure have been key enablers in this challenging period. We are the leading technology retail brand in Turkey, having pioneered various efforts to facilitate access to technology over the last 20 years. Looking forward, we will continue to remain Turkey's trusted technology provider through new initiatives and game-changing practices."