Hepsiburada continued to expand customer activity and order volumes in the second quarter of 2026, highlighting the Turkish e-commerce platform’s growing transaction scale despite continued pressure on profitability.
The company reported 19.5 million orders in Q2, up 13.4% from the same period last year, while the number of active customers reached 11.5 million. Order frequency also increased, suggesting that existing customers are shopping more frequently on the platform.
Orders Rise as Customers Shop More Frequently
One of the strongest signals from Hepsiburada’s latest results was the increase in purchasing frequency.
Customers placed an average of 7.4 orders during the quarter, compared with 6.5 orders in Q2 2025. At the same time, active customers increased 2.5% year over year.
However, the higher order volume was accompanied by a 9.4% decline in average order value, reflecting changes in consumer purchasing behavior.
Hepsiburada’s marketplace remained the main driver of its commerce business, accounting for 68.6% of GMV during the quarter.
GMV Growth Remains Positive
Hepsiburada generated TRY 56.7 billion in gross merchandise value (GMV) during Q2, up 2.8% year over year. Revenue increased 3.1% to TRY 22.8 billion.
Looking at the first half of 2026, the growth picture becomes stronger. GMV reached TRY 118.6 billion, representing a 14.7% increase from the first half of 2025.
Total orders for the first six months reached 39.8 million, up 17.7% year over year.
The figures point to continued expansion in transaction activity, even as the platform operates in an environment where consumers are becoming more selective about spending.
Profitability Becomes a Key Challenge
While customer engagement improved, Hepsiburada faced greater pressure on its bottom line.
The company recorded a TRY 1.89 billion net loss in Q2, compared with a TRY 956.2 million loss in the same period last year.
EBITDA also declined to TRY 239.2 million from TRY 976.9 million a year earlier.
Hepsiburada said its results reflected continued investments in growth initiatives, highlighting the challenge of balancing expansion with profitability as the platform scales.
Hepsiburada Expands Into Consumer Finance
Beyond its core marketplace operations, the company is also continuing to build out its broader commerce ecosystem.
In June, Hepsiburada launched Hepsitaksit, a new financing product designed to give customers additional flexibility when making purchases.
During its first month, transactions through Hepsitaksit represented 0.4% of total GMV, marking an early step in the company’s efforts to integrate financial services more closely with its e-commerce platform.
A Mixed Picture for Turkish E-Commerce
Hepsiburada’s Q2 results offer a broader snapshot of the evolving Turkish e-commerce market.
The platform is attracting more orders and encouraging customers to shop more frequently, while GMV continues to grow over the first half of the year. At the same time, lower average order values and increased investment are creating pressure on profitability.
As Hepsiburada moves into the second half of 2026, the key question will be whether it can turn stronger customer engagement and higher transaction volumes into more sustainable financial performance.
For now, the company’s latest results show an e-commerce business continuing to scale – but with efficiency and profitability becoming increasingly important alongside growth.
