Despite being known for its classic cars and cigars, Cuba is also a country with a growing Online Food Delivery market.
Customer preferences: Cubans are increasingly turning to online food delivery services due to the convenience and time-saving benefits they offer. With a busy lifestyle, many Cubans prefer the ease of ordering food online and having it delivered to their doorstep. Additionally, the younger generation in Cuba is becoming more tech-savvy and accustomed to using mobile devices for various activities, including ordering food online.
Trends in the market: One of the main trends in the Online Food Delivery market in Cuba is the growth of local food delivery services. While international players have been slow to enter the Cuban market due to various challenges, local companies have been able to fill the gap. These companies have been able to tailor their services to the unique needs and preferences of Cuban customers. For example, some local companies offer delivery services for traditional Cuban dishes, which are not typically offered by international food delivery services.
Local special circumstances: The Cuban government has strict regulations on foreign investment and business operations, which has made it difficult for international players to enter the market. Additionally, the country's limited internet access and low credit card penetration have also posed challenges for online food delivery companies. However, local companies have been able to navigate these challenges and establish a presence in the market.
Underlying macroeconomic factors: Cuba's economy has been slowly opening up to foreign investment and tourism, which has led to a growing middle class with higher disposable incomes. This has contributed to the growth of the Online Food Delivery market in Cuba as more people are able to afford the convenience of ordering food online. Additionally, the country's tourism industry has also contributed to the growth of the market as tourists are increasingly using online food delivery services during their visits to the country.
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.
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