Armenia, a country located in the South Caucasus region of Eurasia, is witnessing a surge in the demand for grocery delivery services. With the increasing penetration of smartphones and the internet, the country's grocery delivery market is undergoing a transformational change.
Customer preferences: Armenian customers are increasingly preferring online grocery shopping due to the convenience and time-saving benefits it offers. Moreover, the COVID-19 pandemic has further accelerated this trend as people are avoiding crowded places and opting for contactless delivery options. Customers are also looking for a wider range of products, including fresh produce, and are willing to pay a premium for the same.
Trends in the market: The grocery delivery market in Armenia is witnessing a significant increase in the number of new entrants, including both local and international players. These players are leveraging the latest technologies to offer a seamless and hassle-free shopping experience to customers. Many of these players are also offering value-added services such as recipe suggestions, meal planning, and nutrition advice to differentiate themselves from their competitors. Another trend in the market is the increasing popularity of subscription-based models, which offer customers regular deliveries of their preferred products at discounted prices.
Local special circumstances: Armenia has a large diaspora population living in different parts of the world, and many of them still maintain strong ties with their home country. This has led to a growing demand for Armenian products, including food and beverages, which has further fueled the growth of the grocery delivery market. Moreover, Armenia has a well-established agriculture sector, which ensures a steady supply of fresh produce throughout the year. This has enabled grocery delivery players to offer a wide range of locally sourced products to customers.
Underlying macroeconomic factors: Armenia is a developing country with a rapidly growing economy. The country has a young and tech-savvy population, which is driving the adoption of digital technologies. Moreover, the government has been actively promoting the development of the IT sector, which has led to the emergence of several startups in the country. This has created a favorable environment for the growth of the grocery delivery market. Additionally, the country has a favorable geographic location, which makes it an attractive market for international players looking to expand their operations in the region.
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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