Market Insights Digital Online Food Delivery Grocery Delivery

Retail Delivery - Azerbaijan

Azerbaijan

The Reail Delivery market in Azerbaijan is anticipated to witness substantial growth in the coming years.
According to projections, the market's revenue is expected to reach US$272.30m Azerbaijani Manat by 2024.
This growth trajectory is projected to continue, with an annual growth rate of 16.33% (CAGR 2024-2028), resulting in a market volume of US$498.60m Azerbaijani Manat by 2028.
Furthermore, the number of users in the Reail Delivery market is estimated to reach 1.4m users by 2028.
This indicates a significant increase in user penetration, which is expected to rise from 9.6% in 2024 to 11.7% by 2028.
In terms of average revenue per user (ARPU), it is predicted to amount to US$241.00 Azerbaijani Manat.
Comparing global markets, in the United States is expected to generate the highest revenue in the Reail Delivery market sector, reaching a staggering US$195,400.00m Azerbaijani Manat in 2024.
However, when it comes to user penetration, in the United States is projected to have the highest rate at 30.7%.
These figures highlight the potential and importance of the Reail Delivery market in Azerbaijan, showcasing its growth prospects and significance within the global landscape.
The retail delivery market in Azerbaijan is experiencing a surge in demand for online grocery shopping services.

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Analyst Opinion

The Retail Delivery market of Online Grocery Delivery dominates the market. Retailers were able to scale their online channels rapidly during the COVID-19 lockdowns to meet the exponential rise in customer demand. Retailers still need to look for ways to attract more customers to keep up with the competition. Walmart for example introduced a service where the delivery driver would deliver groceries to the customer’s fridge.

The growth rates of 2022 will see a slight decline in comparison to 2020 and 2021 due to the uncertainty of macroeconomic factors. Although China has a steady lead over the rest of the regions, the U.S. market shows strong growth signals in our forecast. This is due to the high demand and rapid rise of grocery spending per capita.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.