The Furniture Council discussed its problems
13.01.2014 / Ankara
The TOBB Turkey Furniture Products Council discussed the primary problems of the sector, the activity and longevity of which is increasing in national and international competition. In addition macro problems such as off the record economy and unfair competition, VAT and insurance premiums directed at the sector resulting in the agreement that institutions and organizations should be contacted in order to bring resolution to these issues.​
- Domestic market shrinking
Reporting that the domestic market is experiencing shrinking, sector representatives stated that the 8% VAT directly causes a 10% increase in sale costs in living room and bed room furniture, increasing shrinkage in the domestic market.
The council, making assessments regarding contemporary issues, emphasized that credit card sales could cause problems down the road, adversely effecting the sector. Stating that overly exaggerative ads as well as additional installments for payments arranged by banks have changed consumer habits, emphasizing the need for taking precautions in regards to multi-installment payment plans.
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