The Grocery Delivery market in Bosnia and Herzegovina is experiencing a significant growth due to various factors that are shaping the market.
Customer preferences: Bosnia and Herzegovina has a relatively young population, with a growing number of tech-savvy millennials who are increasingly turning towards online shopping and home deliveries. The convenience of having groceries delivered to their doorstep is becoming more popular, especially among busy professionals and families. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping and home deliveries, as people have been forced to stay at home and avoid crowded places.
Trends in the market: The Grocery Delivery market in Bosnia and Herzegovina is still in its early stages, but it is rapidly growing. There are several local and international players in the market, offering a range of services from online ordering to same-day delivery. The market is becoming more competitive, with new players entering the market and existing players expanding their services. One of the major trends in the market is the increasing use of mobile apps for ordering groceries, which is becoming more popular among younger consumers. Another trend is the use of data analytics to improve the customer experience, with companies using customer data to offer personalized recommendations and promotions.
Local special circumstances: Bosnia and Herzegovina is a relatively small market, with a population of just over 3.5 million people. The country has a fragmented retail sector, with a large number of small independent stores and supermarkets. This has made it challenging for large retailers to enter the market and establish a strong presence. Additionally, the country has a complex regulatory environment, which can be a barrier to entry for new players.
Underlying macroeconomic factors: Bosnia and Herzegovina is a developing country, with a relatively low GDP per capita compared to other European countries. However, the country has a young and growing population, which is expected to drive economic growth in the coming years. The country has also been making progress in terms of economic reforms and improving the business environment, which is expected to attract more foreign investment in the future. These factors are likely to support the growth of the Grocery Delivery market in Bosnia and Herzegovina.
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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