The Quick Commerce market in Baltics has been experiencing a significant growth in recent years, with more and more consumers opting for the convenience of on-demand delivery services.
Customer preferences: Customers in Baltics have shown a strong preference for quick and efficient delivery services, with a particular focus on same-day or even same-hour delivery options. This is largely due to the increasing popularity of e-commerce and online shopping, as well as the busy lifestyles of many consumers who value convenience above all else.
Trends in the market: One of the key trends in the Quick Commerce market in Baltics is the rise of local startups and homegrown delivery services. These companies have been able to tap into the unique needs and preferences of the local market, offering tailored solutions that cater to the demands of Baltics consumers. Additionally, there has been a growing trend towards environmentally-friendly and sustainable delivery options, with many companies introducing electric vehicles and other eco-friendly initiatives.
Local special circumstances: The Baltics region is characterized by its relatively small population and fragmented geography, with many small towns and rural areas spread across the three countries. This has presented a challenge for some Quick Commerce companies, as they struggle to establish a profitable business model that can reach all parts of the region. However, many local startups have been able to overcome these challenges by focusing on niche markets and building strong relationships with local communities.
Underlying macroeconomic factors: The Quick Commerce market in Baltics is also influenced by broader macroeconomic factors, such as the increasing digitization of the economy and the growing importance of e-commerce. As more and more consumers shift towards online shopping, the demand for quick and efficient delivery services is only set to increase. Additionally, the COVID-19 pandemic has accelerated this trend, with many consumers opting for contactless delivery options in order to minimize the risk of infection. As a result, the Quick Commerce market in Baltics is likely to continue growing in the coming years, driven by changing consumer preferences and macroeconomic trends.
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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