E-commerce platform Trendyol announced that it has suspended its Trendyol Real Estate initiative, which it announced a while ago, indefinitely.
In the statement made by Trendyol to those who want to become a member of the platform and apply to open a real estate shop, it is pointed out that after the new e-commerce law dated 7 July 2022 published in the Official Gazette, marketing investments and discounts will have to be significantly reduced, and it will be necessary to continue the Trendyol Real Estate initiative in the market structure to be formed. recorded as not possible.
In the statement made, “As Trendyol, we started the infrastructure work on our Trendyol Real Estate initiative a while ago with the aim of contributing to the development of the e-commerce sector in our country by diversifying our services and increasing the competition and vitality in the online real estate sector. We also informed our stakeholders in the real estate sector and received great interest in this new business line, which we are preparing to put into practice with exemplary practices that will carry the sector forward. We need to review our strategies and focus areas. The new law does not allow the provision of advertisement services on or in connection with the Trendyol platform. We will also need to significantly reduce our marketing investments and discounts in order to comply with the law. is added. 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.