BIM and SOK discount markets in Turkey are popular. They are so popular that people all over Turkey shop at them. Consumers from all income brackets like to shop at these markets for many common items. Also, they are conveniently located in many Large, medium, and small sized cities. In addition, they have their own generic brands plus common name brands.
What makes these markets so popular?
- Lower prices (10 to 20% cheaper than Migros or Carrefour)
- Conviniently located in many cities. Most people can actually walk to a store nearby their home.
- “One stop shop” for most of a consumer’s needs
- Weekly ad’s fliers online or at the store
- Weekly specials on white goods, home items, and electronics.
- Transparent pricing (no bait and switch)
- Mobile apps
- Quality control and guarantees
- Gift cards
- Many stores are over the country (each with around 7000 stores)
Are there any differences between BIM & SOK markets?
- BIM has a budget friendly telephone service (SIM cards + prepaid plans) Bimcell.com.tr
- SOK has an online delivery service in big cities. www.ceptesok.com
- BIM has around 65 full service super markets. www.file.com.tr
- SOK allows customers to pay utility bills at check-out (small fee)
- BIM has stores in Egypt and Morocco.
- SOK sell cigarettes
Furthermore, both markets are publicly traded on the Istanbul Stock Exchange (BIST). They are considered defensive stocks with annual dividend payouts. Investors tend to like them for their consistent conservative returns. However, BIM (ticker: BIMAS) tends to provide more track record value. Its stock usually rises over time and has split many times. SOK (ticker: SOKM) is fairly new stock so it has less of a track record. It trades within a certain range of usually 8 to 12 TRY a share. In addition, both are usually recommended either a “hold or buy.”
The only real drawback to these stores is the limited number of items. Both stores have around 700 different products, usually with only one brand. Thus, sometimes you cannot find a certain product. Also, beer and wine are not sold at these stores.
Even though BIM and SOK discount market are popular in Turkey among consumers, it is not true for its workers. Most of their workers are on minimum wage. Also, many work 6 days a week. They rarely smile or say “thank you” for shopping with us.
To sum up, BIM and SOK are popular discount markets in Turkey. They not only provide a valuable service to customers, but also the investor, too. BIM and SOK will continue to expand and offer more services to customers in the future.
