Recent development
The Turkish Ministry of Customs and Trade seeks public comment on proposed new restrictions on retail discount campaigns, discount stores, and shopping festivals.
What’s new?
Further to the 2015 Retail Trade Law, the Ministry recently published its draft Regulation on the Principles of Retail Trade on its website. Under the draft regulation:
• Discount campaigns for store openings, transfers, closings, relocations or changes to its activities cannot exceed three months or, in the case of liquidation, six months.
• The start and end dates of discount campaigns must be clearly stated in advertisements or on the company’s website.
• If items are always discounted (e.g., at outlet stores, stores selling defective goods), consumers must be expressly notified through legible and understandable signs inside and outside the store.
• The Ministry of Customs and Trade must be notified of shopping festivals at least one month before the festival’s starting date.
Conclusion
The Ministry of Customs and Trade has continued to demonstrate its commitment to regulating the retail market in recent years. Though it remains unclear as to when the new regulation will enter into force, firms should be aware of how these changes may affect their operations in Turkey and take steps to ensure compliance when the regulation is adopted.
