Honduras, a Central American country, is experiencing a shift in consumer behavior towards online grocery shopping.
Customer preferences: Honduran consumers are increasingly relying on online grocery delivery services due to the convenience it provides. With busy work schedules and traffic congestion in urban areas, customers prefer to order groceries online and have them delivered to their doorstep. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping as customers look for contactless delivery options.
Trends in the market: The online grocery delivery market in Honduras is growing rapidly due to the increasing penetration of smartphones and internet connectivity. The market is highly competitive with both local and international players vying for a share of the market. The major players in the market offer a wide range of products including fresh produce, packaged food, and household essentials. Many of these players have also introduced subscription-based models to encourage customer loyalty.
Local special circumstances: Honduras has a high level of income inequality, with a significant portion of the population living in poverty. As a result, the online grocery delivery market is primarily focused on the urban areas where the middle and upper classes reside. Additionally, the country has a relatively underdeveloped logistics infrastructure, which can pose a challenge for delivery companies.
Underlying macroeconomic factors: Honduras has a relatively low GDP per capita, which means that price sensitivity is a key factor for consumers. Online grocery delivery services provide customers with the convenience of home delivery while also offering competitive pricing. Additionally, the country has a young population with a high percentage of internet users, which bodes well for the growth of the online grocery delivery market. However, the country also faces challenges such as political instability and crime, which can impact consumer confidence and willingness to shop online.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
