Amidst the global pandemic, the grocery delivery market in Latvia has been experiencing significant growth.
Customer preferences: Latvia's grocery delivery market has seen a surge in demand due to the pandemic-induced lockdowns and restrictions. Consumers are opting for online grocery shopping and home delivery services to avoid crowded supermarkets and minimize the risk of exposure to the virus. This shift in consumer behavior has led to an increase in demand for grocery delivery services in Latvia.
Trends in the market: The grocery delivery market in Latvia has been growing steadily over the past few years, but the pandemic has accelerated this growth. Online grocery shopping and home delivery services have become more popular, and companies are investing in improving their delivery infrastructure to meet the growing demand. Many grocery stores have also started offering their own delivery services, while third-party delivery services are also gaining traction.
Local special circumstances: Latvia has a relatively small population, which has made it easier for grocery delivery companies to establish a strong presence in the market. Additionally, the country has a high internet penetration rate, which has facilitated the growth of online shopping and home delivery services. The government has also been supportive of the grocery delivery market, with initiatives to promote e-commerce and digitalization.
Underlying macroeconomic factors: The pandemic has had a significant impact on the Latvian economy, with many businesses struggling to stay afloat. However, the grocery delivery market has been one of the few sectors that has seen growth during this time. The Latvian government's efforts to promote e-commerce and digitalization have also helped to create a favorable environment for the grocery delivery market. Overall, the grocery delivery market in Latvia is expected to continue growing in the coming years, as more consumers opt for the convenience and safety of online shopping and home delivery services.
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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