Impressions from Perşembe Pazarı

Impressions from Thursday Market

Although Thursday Market, one of the oldest commercial and industrial centres in our country, is far from its former glory, it still retains its colourful, vibrant character. Located beneath Galata Tower, this neighbourhood of aged, history-laden buildings remains an important hub for paint trade in Turkey. Galata Region and Karaköy held significant positions in the financial life of both the Ottoman Empire and the Turkish Republic. It hosted the influential Galata bankers of the Empire's economic life, the Şirket-i Hayriye and tramway companies, the Galata Stock Exchange which ranked among the world's most important exchanges until the 1920s, an institution like the Ottoman Bank, and major economic events of the period.

Thursday Market, meanwhile, is located within the boundaries of Karaköy neighbourhood, situated around the mouth of the Golden Horn in Galata and near the Galata Bridge. Throughout history, Thursday Market has carried the characteristics of Galata Region.

The Pera – Galata section became Istanbul's modern and Western face. Between 1838 – 1908, this is clearly evident in the Ottoman Empire's modernisation efforts. Work equivalent to that carried out in European cities was undertaken regarding street organisation, paving, installation and maintenance of water and sewage systems. On the streets of Galata, illuminated in 1857, hotels and pensions had taken their places, as their counterparts did in Europe. Even old buildings were converted into hotels, and those built after this date were constructed directly as hotels. In the second half of the 19th century, Karaköy maintained its characteristic as a transportation hub and its commercial functions. Thursday Market, situated just below Pera and Galata where the Levantines' Western lifestyle took shape, blended the characteristics of these neighbourhoods, incorporating commerce as well. One of the world's first rail systems, the tunnel, opened for service in 1876. Shops, office buildings, passages, offices and warehouses concentrated on the Golden Horn waterfront, while residential areas, embassies, hotels and pensions, and entertainment centres were frequently located near Galata Tower.

20. Throughout the 20th century, Thursday Market region was filled with businesses. However, the urban development plans and policies implemented between 1955–1960 altered the architectural, cultural and social fabric of Galata and the region. With maritime transportation losing its former importance, particularly in commercial terms, the region's significance declined, and the banking sector adopted the Levent-Maslak area as its new centre.

Although many of the past shops moved to the PERPA building opened in Piyalepaşa in 1989, today Thursday Market has become a giant "building market" housing paint, hardware, machinery parts, fastener and bearing trade activities and workers in these sectors.

Metin Yarım, MS Teknik

Metin Yarım, stating they have been Karaköy traders for 30 years, said they have been serving within their current structure as MS Teknik for 5 years. Indicating they have 3 shops in the Karaköy market and car parks besides, Yarım explained that their sales are generally to large firms in the construction sector. Besides this, stating they generally work with interior designers, Yarım noted they also sell to craftspeople and individual consumers. Yarım expressed that large building markets in our country have not greatly affected their business, noting that the wide variety of products and the presence of Chinese products in the market are influential, emphasising that the market buys and sells the most economical products. When we asked about factors affecting demand between domestic and foreign products, he said: "There is customer diversity. We have to find what the customer wants. For example, a customer may have a specific brand in mind. They've decided on it and want it. However, when we sometimes suggest an alternative material, they insist on the original. But sometimes a few months later they return and say you were right. This situation exists in all products, including paint." When asked how 2017 sales were going, he said: "This year started slow. Last year wasn't great but it was okay, but this season business is quite sluggish. The rise in the dollar has an effect. The higher the dollar goes, the more customers pull back." Noting that light colours were preferred in paint last year, Yarım reported that this year continues the same way. When selling paint, Yarım said they ask where each product they sell will be used and try to provide the product accordingly. "We tell people not to do it themselves because most people who do can't manage it. Labour costs are high, which is why some people try to paint themselves, but they end up spending more, can't maintain the paint colour, miss out on quality, and essentially it becomes expensive because of poor priming. Everything requires expertise." Yarım concluded his remarks with: "Paint always sells, but I think the cold weather had an effect this year. But now it's the right season, business should pick up, we're waiting."

Ümit Sır, Ergin Boya

Ümit Sır, stating that Ergin Boya Trading has been operating since 1973, said that after working as an accountant within the company, he took it over in 1997 and has continued his professional career as the owner since then. When asked how sales went in 2016, Sır said: "Like everyone else, as you know, 2016 had very poor sales. Sales drop every year, it's the same in every paint category, whether construction or marine group, sales are dropping. It's continuing the same way this year as in 2016." When specifically asked about customer profile in the construction paints area, he said: "Because it's Karaköy, individual consumers come to buy, there are large-scale operations too, you can have all types of customers." When asked about product demand and factors affecting purchasing decisions, Sır said: "Consumers look at brand, they look at price, everyone has different priorities. Those making large-scale purchases, those with a specific brand in mind follow pricing policy, and within negotiations they also demand high-level discounts." Regarding which products were most preferred in the past year and this year, Sır said: "I have a wide variety, but in the construction group I can say silicone-based paints are most preferred. Sand beige, light tone colours move more." Particularly in developed countries such as Europe and America, because labour is very costly, many people in these regions paint their homes themselves. When asked whether we observe this situation in Turkey, he answered our question with: "Of course there are consumers who paint themselves, there are those complaining about craftspeople and saying they'll do it themselves. Yes, they can do it, I've never had the impression that someone couldn't do it themselves. We provide all necessary information to every customer, whether they know or don't. How much you'll use, how much is needed per square metre, how much water to add, we explain all types of technical matters to our customers."

Dursun Zeytun, Üçer Boya

Dursun Zeytun, owner of Üçer Boya, said he has worked in the sector for a total of 25 years and has been operating with this company for approximately 10 years. Stating that sales activities are going well, Zeytun continued his remarks with: "There's no problem with sales. 2016 was good for us. 2017 is starting fresh, business will gradually increase. Our work naturally picks up after March. There seems to be good demand right now." When asked how business has progressed compared to previous years, he noted that they are a small-scale company, but they have observed a slight increase in terms of their own operations. Zeytun described his customer profiles as: "We mostly get craftspeople or people coming to have their homes painted. There are those buying for construction but the majority are the others. Not sales over the internet, but building markets do affect our business. Installment sales have an effect. We generally do cash or credit card sales. When asked when and for what reasons people buy paint, he said: "Whether it's a home or a workplace, people buy paint when paint is needed. We don't see people saying every year let me change my home's paint. Doing paint is a relatively troublesome, costly affair, people prefer it when there's a need. Among the prominent colours, beige leads the way. More silicone-based products are preferred. The most popular silicone-based paints in the market anyway. Price matters, brand matters, but I can say price is most important. People know what product they're buying. It's rare for us to guide them. Craftspeople already know their materials, they want the brand. Advertising has an effect too, but since equivalent materials exist in all companies, the most important thing is price." Noting that consumers mostly have craftspeople do their paint work, Zeytun concluded his remarks with: "But still there are those who come and buy their own paint. We guide them on what type and how much product they need."