Market Insights eCommerce Online Food Delivery

Grocery Delivery - Cuba

Cuba

The projected revenue in the Grocery Delivery market in Cuba is expected to reach US$151.90m in 2024.
It is also anticipated that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 19.39%, resulting in a projected market volume of US$368.50m by 2029.
In addition, the Retail Delivery market in Cuba is projected to have a market volume of US$151.90m in 2024.
When comparing this revenue globally, it is notable that the majority will be generated China, amounting to US$266,000.00m in 2024.
Furthermore, the average revenue per user (ARPU) in the Grocery Delivery market in Cuba is projected to be US$195.20 in 2024.
As for the number of users, it is expected to reach 0.9m users by 2029.
Lastly, the user penetration in the Grocery Delivery market is estimated to be 7.0% in 2024.
Cuba's grocery delivery market is experiencing a surge in demand as consumers seek convenient and efficient ways to access food during the country's economic reforms.

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Analyst Opinion

Cuba is a country that has been undergoing a lot of changes in the past decade, including in its grocery delivery market.

Customer preferences: Cubans have traditionally preferred to shop for groceries in person, often at local markets or government-run stores. However, the rise of technology and the internet has led to an increase in demand for online grocery delivery services, particularly among younger generations and those living in urban areas.

Trends in the market: The grocery delivery market in Cuba is still relatively small, with only a few companies operating in the space. However, there has been a steady increase in the number of online grocery stores and delivery services in recent years, as well as an expansion of existing services to cover more areas of the country.One trend that has emerged in the Cuban grocery delivery market is the use of mobile apps to order groceries. Many companies have developed apps that allow customers to browse and purchase groceries from their phones, making the process more convenient and accessible.Another trend is the use of social media to promote and sell groceries. Some companies have turned to platforms like Facebook and Instagram to reach customers and showcase their products, often offering special deals and discounts to those who follow them on social media.

Local special circumstances: One unique aspect of the Cuban grocery delivery market is the country's complex economic system. Many goods are still rationed by the government, and there are restrictions on the types of products that can be sold and the prices that can be charged.This has led to some challenges for grocery delivery companies, as they must navigate the complex regulations and often deal with shortages of certain products. However, it has also created opportunities for companies that can source and deliver hard-to-find items, such as imported goods or specialty products.

Underlying macroeconomic factors: The Cuban economy has been undergoing significant changes in recent years, including the gradual opening up of the country to foreign investment and the expansion of private enterprise.These changes have created new opportunities for entrepreneurs and businesses, including those in the grocery delivery market. However, there are still many challenges to operating in Cuba, including limited access to technology and infrastructure, as well as ongoing political and economic uncertainty.Overall, the grocery delivery market in Cuba is still in its early stages, but there is potential for growth and expansion as more Cubans embrace online shopping and as the country continues to evolve economically and socially.

Methodology

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.