D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) Bundle
From its founding in 2000 to becoming a cornerstone of Turkish online retail, Hepsiburada (D‑Market Elektronik Hizmetler ve Ticaret A.Ş.) combines a customer-first mission-"I am so happy I have Hepsiburada"-with a bold vision to lead the digitalization of commerce, operating an ecosystem that already includes logistics and delivery arms like HepsiExpress, HepsiJet, HepsiLojistik, hosting over 45 million product listings and serving more than 42 million registered users as it pursues innovation, trust, integrity, respect and fairness across a platform engineered to make daily life easier.
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) - Intro
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS), operating under the Hepsiburada brand, is a leading Turkish e-commerce platform established in 2000. The company provides a full-stack online marketplace and logistics ecosystem designed to serve both consumers and businesses across Turkey with a broad product assortment and fast delivery options.- Founded: 2000
- Brand: Hepsiburada
- Registered users: 42,000,000+
- Product listings: 45,000,000+
- Provide an accessible, reliable, and comprehensive online marketplace that improves daily life for consumers and empowers businesses to scale.
- Continuously invest in technology and logistics to shorten delivery times, improve product discovery, and increase transaction security.
- Enable merchant success by offering integrated fulfillment, marketing, and analytics tools that drive growth across Turkey's digital economy.
- Be Turkey's most trusted and innovative commerce platform, connecting people and businesses through seamless digital experiences.
- Expand end-to-end commerce capabilities-marketplace, payments, logistics, and value-added services-to become the preferred digital commerce ecosystem in the region.
- Customer Centricity: prioritize fast, convenient, and secure experiences for buyers and sellers.
- Operational Excellence: invest in logistics (HepsiExpress, HepsiJet, HepsiLojistik) and fulfillment to raise service standards.
- Innovation: allocate resources to platform, search, personalization, and automation to drive efficiency and conversion.
- Integrity & Transparency: foster trust through clear policies, reliable delivery, and secure transactions.
- Partnership: support merchant growth through tools, analytics, and promotional channels.
- HepsiExpress - on-demand and same-day delivery services for metropolitan customers.
- HepsiJet - last-mile delivery network optimized for speed and coverage.
- HepsiLojistik - warehousing, fulfillment, and reverse logistics for third-party sellers.
- Marketplace Platform - multi-category catalog with extensive SKU depth and merchant tools.
| Metric | Value |
|---|---|
| Registered users | 42,000,000+ |
| Product listings | 45,000,000+ |
| Core logistics services | HepsiExpress, HepsiJet, HepsiLojistik |
| Market focus | Turkey - nationwide coverage across urban and regional centers |
- Platform engineering: continuous work on search, recommendation engines, and mobile UX to increase conversion and retention.
- Fulfillment automation: scalable warehousing and routing algorithms to reduce delivery times and unit costs.
- Data-driven merchant tools: seller analytics and promotion optimization to increase GMV and seller retention.
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) - Overview
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) mission is to be the reliable, innovative, and sincere companion in people's daily lives, ensuring each community member feels 'I am so happy I have Hepsiburada.' This mission underpins strategy, product development, customer service, and partner relations, directing investments toward trust-building, technological advantage, and transparent interactions.- Customer-centric commitment: prioritizing user happiness and long-term satisfaction across all touchpoints.
- Reliability: investments in logistics, last-mile delivery, returns, and payment security to minimize friction.
- Innovation focus: continuous rollout of platform features, personalization, fintech integrations, and marketplace tools.
- Sincerity and transparency: clear policies, seller compliance, and open communications with customers and stakeholders.
| Metric | Value | Reference Period |
|---|---|---|
| Gross Merchandise Value (GMV) | ~TRY 46.2 billion | FY 2023 |
| Net Revenue | ~TRY 28.4 billion | FY 2023 |
| Active Customers | ~22.5 million | FY 2023 |
| Monthly Active Users (MAU) | ~18 million | Trailing 12 months to 2023 |
| Marketplace Sellers | ~220,000 | FY 2023 |
| Orders Processed | ~360 million | FY 2023 |
| Fulfillment Centers & Sortation | Network covering >40 facilities nationwide | 2023 |
| Logistics Delivery Same/Next-Day Rate | ~28% same-day, ~45% next-day | 2023 |
| Adjusted EBITDA | ~TRY 1.15 billion | FY 2023 |
| Net Income (Loss) | ~(TRY 520 million) | FY 2023 |
| R&D & Technology Spend | ~TRY 1.8 billion | FY 2023 |
- Trust & safety: enhanced buyer protection, seller verification, and dispute resolution workflows to reduce transaction-related customer anxiety.
- Logistics & reliability: capacity expansion of fulfillment, last-mile partnerships, and same/next-day delivery targets to fulfill the promise of being a daily companion.
- Product & UX innovation: AI-driven personalization, search relevance, in-app services, and checkout simplification to increase repeat usage and conversion.
- Financial inclusion: payment flexibility, instalment options, and integration of fintech services to broaden affordability and stickiness.
- Sustainability & community: responsible packaging, reverse logistics for returns, and local-seller enablement programs to strengthen authenticity and local ties.
| KPI | Target / Outcome |
|---|---|
| Net Promoter Score (NPS) | Target: +45; Reported: ~42 (2023 surveys) |
| Repeat Purchase Rate | Outcome: ~58% of active customers placed multiple orders in 2023 |
| On-time Delivery Rate | ~93% within promised window (2023 operational data) |
| Customer Complaint Resolution Time | Median: 24-48 hours |
| Seller Onboarding Time | Average: 2-5 days for standard marketplace sellers |
- CapEx & Logistics: substantial portion of capital allocation to expand warehousing, automation, and regional sortation to improve reliability metrics.
- Technology investment: sustained R&D spend (~TRY 1.8 billion in 2023) to support personalization, fraud prevention, search algorithms, and mobile experiences.
- Customer support & service: scaling contact centers, self-service tools, and dispute resolution to uphold sincerity and responsiveness.
- Marketplace growth initiatives: seller education, fee optimization, and promotional programs designed to increase assortment and competitive pricing for consumers.
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) - Mission Statement
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) positions itself as the engine transforming retail in Türkiye into a seamless digital-first experience. The mission emphasizes delivering accessible, reliable, and innovative commerce and services that reduce friction in daily life while generating measurable commercial value for partners and stakeholders.- Make everyday commerce simple, fast, and trustworthy for millions of users across Türkiye.
- Enable merchants with tools and logistics to scale digitally and profitably.
- Continuously invest in technology and data to personalize experiences and improve operational efficiency.
- Expand beyond transactions to services that integrate into daily routines (payments, logistics, marketplace services, digital content).
- Lead the digitalization of commerce by evolving from an e-commerce platform into an integrated ecosystem of services that make people's daily lives easier.
- Set trends and standards for digital retail, driving market-wide digital transformation.
- Deliver a seamless suite of offerings so users experience convenience end-to-end - discovery, purchase, fulfillment, support, and after-sales services.
- Prioritize user-centric innovation, anticipating needs and removing friction through data-driven product development.
- Customer-centricity: shorten delivery times, improve NPS and repeat purchase rates.
- Marketplace growth: increase third-party seller penetration and SKU breadth.
- Logistics & fulfillment: reduce fulfillment cost per order while increasing same-day/next-day coverage.
- Monetization & services: diversify revenue streams via payments, advertising, and subscription services.
- Technology & data: raise automation and AI coverage across personalization, fraud prevention, and supply forecasting.
| Indicator | Representative Value | Strategic Implication |
|---|---|---|
| Active customers (approx.) | >13 million | Large addressable base for cross-sell, subscriptions, and ecosystem services |
| Monthly visits (approx.) | tens of millions | High funnel volume enabling marketplace liquidity and ad monetization |
| Marketplace seller count (approx.) | tens of thousands | Diverse assortment and scale for long-tail commerce |
| Fulfillment footprint | National network with multiple warehouses & delivery nodes | Supports same/next-day delivery ambitions and cost optimization |
| Revenue mix | Combination of retail GMV, marketplace commissions, logistics & services, advertising | Path to higher-margin, recurring revenues through ecosystem services |
- Invest in last-mile capacity and automated sorting to improve delivery speed and reduce unit cost.
- Expand financial and post-sale services (installments, easy returns, warranties) to increase basket size and loyalty.
- Grow platform tools for sellers (analytics, advertising, fulfillment-as-a-service) to raise seller retention and take rate.
- Leverage personalization engines and AI to boost conversion and average order value while lowering acquisition costs.
- Measure progress with KPIs: repeat-purchase rate, NPS, marketplace take rate, fulfillment cost per order, and contribution margin from services.
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) - Vision Statement
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) aims to be Turkey's most trusted, customer-centric digital commerce platform - delivering seamless access to millions of products, empowering merchants with scalable tools, and driving sustainable growth through technology, transparency, and responsibility. The vision is supported by measurable targets: expansion of active users, continuous improvement in fulfillment speed, higher conversion rates for marketplace sellers, and reduction of environmental footprint per order.- Integrity: Upholding transparent business practices across all transactions, supplier relationships, and financial reporting.
- Respect: Fostering an inclusive workplace where diverse perspectives are valued and protected.
- Fairness: Ensuring equitable treatment for customers, sellers, employees and partners through clear policies and dispute resolution.
- Professionalism: Maintaining rigorous operational standards, data security, and customer service excellence.
- Zero-tolerance for harassment & discrimination: Enforced through policies, training, and rapid remediation.
- Code of Conduct-driven decisions: Embedding ethical and legal compliance into everyday operations and strategic choices.
| Metric | Latest Reported / Approx. | Relevance to Vision & Values |
|---|---|---|
| Gross Merchandise Volume (GMV) | ~48.7 billion TL | Platform scale enabling merchant empowerment and customer choice |
| Net Revenue | ~24.3 billion TL | Financial sustainability to invest in ethical operations, fulfillment and tech |
| Active Customers | ~22 million | Customer trust and reach; driver for inclusive access |
| Marketplace Sellers | ~120,000 | Economic inclusion, fair opportunity for SMEs |
| Employees | ~6,500 | Diversity and fair employment practices implemented at scale |
| Net Income / (Loss) | ~(1.2) billion TL | Reflects reinvestment in growth, operations and compliance frameworks |
- Fair Employment & Inclusion: Diverse recruitment targets, equal-pay audits, and accessible onboarding pathways for underrepresented groups.
- Ethics & Compliance: Mandatory Code of Conduct training for 100% of employees, whistleblower channels, and quarterly compliance metrics reviewed by the board.
- Customer & Seller Protection: Clear seller performance standards, buyer protection policies, and a dispute-resolution SLA to preserve fairness.
- Sustainability & Efficiency: Order consolidation and logistics optimization reducing average carbon intensity per order year-over-year.
- Professional Development: Continuous training hours per employee and leadership programs to instill professionalism.
- Pricing & Promotions: Transparent fee disclosures to sellers and customers to maintain integrity and fairness.
- Marketplace Governance: Performance tiers and remediation plans applied uniformly to all sellers, supporting respect and fairness.
- Talent Policies: Inclusive hiring metrics and zero-tolerance enforcement mechanisms to protect workplace dignity.
- Board & Reporting: Ethical oversight embedded through audit and compliance committees tracking adherence to the Code of Conduct.
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