The demand for grocery delivery services has been on the rise in Bhutan, with an increasing number of consumers opting for this convenient and time-saving option.
Customer preferences: Bhutanese consumers are increasingly looking for hassle-free and time-saving options for their grocery shopping needs, and grocery delivery services are meeting this demand. With the rise of digitalization and e-commerce, consumers are becoming more comfortable with online shopping and home delivery services. Additionally, the COVID-19 pandemic has accelerated this trend, as consumers are avoiding crowded places and looking for contactless delivery options.
Trends in the market: The grocery delivery market in Bhutan is still in its early stages, with a few players entering the market in recent years. However, the market is expected to grow rapidly in the coming years, driven by increasing demand from consumers and the expansion of e-commerce platforms. With the rise of online grocery shopping, retailers are also investing in their own delivery services to compete with third-party providers.
Local special circumstances: Bhutan is a small, landlocked country with a population of around 750,000 people. The country has a unique culture and way of life, with a strong emphasis on Gross National Happiness (GNH) and sustainable development. This means that businesses operating in Bhutan need to be mindful of the local culture and values, and prioritize sustainability and social responsibility. Additionally, the country's mountainous terrain and limited infrastructure can pose challenges for logistics and delivery services.
Underlying macroeconomic factors: Bhutan's economy is heavily reliant on hydropower exports and tourism, with limited domestic industries. However, the government has been promoting economic diversification and entrepreneurship, which has led to the growth of small and medium-sized enterprises (SMEs) in the country. The rise of e-commerce and online platforms has provided opportunities for these SMEs to reach a wider audience and grow their businesses. Additionally, Bhutan has a young and tech-savvy population, which is driving the adoption of digital services and online shopping.
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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