Guatemala, a country located in Central America, has been experiencing a significant increase in the demand for grocery delivery services.
Customer preferences: The convenience of having groceries delivered to their doorstep is the main reason why Guatemalan consumers are opting for grocery delivery services. With the busy lifestyle of the urban population, the need for a hassle-free shopping experience has become a priority. Additionally, the COVID-19 pandemic has further accelerated the demand for online grocery shopping, as consumers are looking for contactless ways to purchase their daily essentials.
Trends in the market: The grocery delivery market in Guatemala is still in its early stages, but it is growing rapidly. Local supermarkets and startups are entering the market to cater to the increasing demand. The competition is driving innovation, with companies offering various delivery options, including same-day and next-day delivery. Furthermore, the market is expanding to offer a wider range of products, including fresh produce, meat, and dairy products.
Local special circumstances: Guatemala has a young population, with a median age of 23 years old. This demographic is tech-savvy and highly connected, making online shopping an attractive option. Additionally, the country has a high urbanization rate, with over 50% of the population living in urban areas. This concentration of population in urban areas has led to the development of delivery infrastructure, making it easier for companies to provide efficient delivery services.
Underlying macroeconomic factors: Guatemala has a growing economy, with a GDP growth rate of 3.6% in 2019. The country has a stable political environment and has been attracting foreign investment, which has contributed to the growth of the grocery delivery market. However, Guatemala is still a developing country, and its infrastructure needs improvement. This presents a challenge for delivery companies as they need to navigate the country's poor road conditions and limited transportation options.In conclusion, the grocery delivery market in Guatemala is experiencing significant growth due to the convenience it offers to consumers. The market is still in its early stages, but it is expanding rapidly, with local supermarkets and startups entering the market. The young, tech-savvy population and high urbanization rate are the main drivers of the market, while the country's developing infrastructure presents a challenge for delivery companies.
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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