The convenience of online grocery shopping has been a growing trend in many countries, and Bangladesh is no exception.
Customer preferences: Bangladesh has a large population with a growing middle class, who are increasingly tech-savvy and time-poor. These factors have led to a greater demand for online grocery delivery services. Consumers are looking for convenience, speed, and a wide variety of products to choose from.
Trends in the market: The online grocery delivery market in Bangladesh is becoming increasingly competitive, with several local and international players entering the market. The market has grown rapidly in recent years, and it is expected to continue to grow in the coming years. One of the key trends in the market is the rise of mobile app-based grocery delivery services, which offer consumers a convenient way to shop for groceries from their smartphones. Another trend is the increasing availability of fresh and organic produce, as consumers become more health-conscious.
Local special circumstances: Bangladesh has a unique geography, with many people living in densely populated urban areas. This presents challenges for traditional brick-and-mortar grocery stores, which can be difficult to access and navigate in these areas. Online grocery delivery services offer a solution to this problem, as they can deliver groceries directly to consumers' homes. Additionally, Bangladesh has a large population of expatriate workers who live and work abroad. Many of these workers have family members who live in Bangladesh and rely on online grocery delivery services to send food and other essential items to their loved ones.
Underlying macroeconomic factors: Bangladesh has a growing economy, with a rising middle class and increasing levels of disposable income. This has led to a greater demand for convenience and luxury goods, including online grocery delivery services. Additionally, the COVID-19 pandemic has accelerated the trend towards online shopping, as many consumers have been reluctant to visit physical stores due to health concerns. This has led to a surge in demand for online grocery delivery services, which are seen as a safe and convenient way to shop for groceries during the pandemic.
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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