Montenegro, a small country located in Southeast Europe, is experiencing a growth in the Grocery Delivery market.
Customer preferences: Montenegro's population is increasingly turning to online shopping, including grocery delivery. This trend is partially due to the convenience it offers, allowing customers to save time and avoid the hassle of going to a physical store. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as customers are hesitant to go out in public and prefer to have their groceries delivered directly to their doorstep.
Trends in the market: One of the key trends in the Montenegrin Grocery Delivery market is the emergence of local startups and small businesses offering delivery services. These businesses are filling a gap in the market left by larger, international companies that have yet to establish a strong presence in Montenegro. Additionally, these local businesses are able to offer more personalized and tailored services to customers, such as delivering fresh produce from local farms.Another trend in the market is the increasing popularity of mobile apps for grocery delivery. Customers in Montenegro are increasingly using their smartphones to place orders and track deliveries, making the process even more convenient and streamlined.
Local special circumstances: Montenegro's unique geography and infrastructure present some challenges for the Grocery Delivery market. The country is known for its mountainous terrain and winding roads, which can make delivery difficult in some areas. Additionally, the country's relatively small population means that there may be limited demand for grocery delivery in certain regions.
Underlying macroeconomic factors: The growth of the Grocery Delivery market in Montenegro can be attributed to several macroeconomic factors. One of the key drivers is the country's increasing internet penetration rate, which has made online shopping more accessible to a larger portion of the population. Additionally, Montenegro's growing middle class has more disposable income to spend on convenience services like grocery delivery. Finally, the COVID-19 pandemic has accelerated the shift towards online shopping and home delivery, as customers prioritize safety and convenience.
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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