Belize, a small country located in Central America, has seen a gradual growth in the Grocery Delivery market in recent years.
Customer preferences: Belizeans are increasingly turning towards online shopping for their grocery needs due to the convenience it offers. With the rise of e-commerce platforms, customers can now order groceries from the comfort of their homes and have them delivered to their doorstep. This trend is particularly popular among the younger generation who prefer to shop online rather than visit physical stores.
Trends in the market: The Grocery Delivery market in Belize has seen a surge in demand due to the COVID-19 pandemic. With the government imposing strict lockdown measures, many customers turned to online grocery shopping to avoid exposure to the virus. As a result, many traditional grocery stores in Belize have started offering online delivery services to cater to the growing demand.
Local special circumstances: Belize is a small country with a population of just over 400,000 people. The country has a limited number of supermarkets and grocery stores, particularly in rural areas. This has led to a rise in demand for online grocery delivery services, as customers in these areas find it difficult to access physical stores. Additionally, the country's poor road infrastructure and limited public transportation system make it challenging for customers to travel to grocery stores.
Underlying macroeconomic factors: Belize has a relatively low internet penetration rate compared to other countries in the region. However, the government has taken steps to improve internet connectivity across the country, which has led to an increase in online shopping. Furthermore, the country's economy heavily relies on tourism, which has been severely impacted by the pandemic. The rise of the Grocery Delivery market in Belize has provided an alternative source of income for many traditional grocery stores and supermarkets.
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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