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The demand for Grocery Delivery services in Panama has been increasing in recent years, driven by changing consumer preferences and the growth of e-commerce in the country.
Customer preferences: Panama's urban population has been growing rapidly, leading to an increase in demand for convenient and time-saving services. Consumers are increasingly turning to online shopping and home delivery as a way to save time and avoid crowded stores. Furthermore, the COVID-19 pandemic has accelerated the adoption of online grocery shopping and delivery services as consumers seek to avoid physical contact and reduce the risk of infection.
Trends in the market: The Grocery Delivery market in Panama is highly competitive, with both local and international players operating in the space. Online grocery platforms have been expanding their product offerings to include a wider range of items, including fresh produce and household essentials. Additionally, some platforms have introduced subscription services and loyalty programs to retain customers and increase their market share. However, the market is still in its early stages, and there is significant room for growth and innovation.
Local special circumstances: Panama's geography and infrastructure pose unique challenges for the Grocery Delivery market. Many parts of the country are difficult to access, and the transportation network is not always reliable. This can make it challenging for delivery companies to provide timely and efficient service to all areas. Additionally, the country's high levels of inequality mean that access to technology and online services is not evenly distributed, which could limit the growth of the market in certain segments of the population.
Underlying macroeconomic factors: Panama's economy has been growing steadily in recent years, and the country has a relatively high level of internet penetration. These factors have created a favorable environment for the development of e-commerce and online delivery services. However, the country also faces challenges related to income inequality, which could limit the growth of the market in certain segments of the population. Additionally, the COVID-19 pandemic has had a significant impact on the country's economy and could affect consumer behavior in the long term.
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)