Trendyol, the e-commerce platform, has decided to close Trendyol Real Estate, for which it is preparing for commissioning. In the decision, it was stated that the new e-commerce law, published in the Official Gazette dated 7 July 2022 and to be implemented by the Ministry of Commerce, does not allow the provision of advertisement services on the Trendyol platform or in connection with it. In the information given by Trendyol to the representatives of the real estate sector, the following statements were used: “As Turkey’s leading e-commerce platform, Trendyol, with the aim of contributing to the development of our country’s e-commerce sector by diversifying our services and increasing the competition and vitality in the online real estate sector, was recently announced. We started the infrastructure work related to our Trendyol Real Estate initiative. With our strong technological infrastructure and experience in e-commerce, we have also informed our stakeholders in the real estate sector about this new business line, which we are preparing to launch with sample applications that will carry the online real estate industry forward, and we have received intense interest.” said.
New e-commerce law stopped
In the statement, it was stated that “We need to review our business strategies and focus areas in the process of harmonization with the new e-commerce law published in the Official Gazette dated 7 July 2022 and to be implemented by our Ministry of Commerce” and the following statements were included: does not allow the provision of advertisement services in such a way. We will also need to significantly reduce our marketing investments and discounts to comply with the law. Unfortunately, it is not possible for us to continue our Trendyol Real Estate initiative in the new market structure that will emerge. For this reason, we have suspended our investment in the real estate sector indefinitely, which we believe will stimulate the competition in the online real estate sector in favor of buyers and real estate agents.”