The Quick Commerce market in Colombia has seen significant growth in recent years, driven by changing consumer preferences and advancements in technology.
Customer preferences: Colombian consumers are increasingly looking for convenience and speed when it comes to their shopping habits. This has led to a rise in demand for Quick Commerce services, which offer fast delivery times and a wide range of products. Additionally, the COVID-19 pandemic has accelerated this trend, as more consumers opt for online shopping and home delivery to avoid crowded public spaces.
Trends in the market: The Quick Commerce market in Colombia is becoming increasingly competitive, with both local and international players entering the market. As a result, companies are focusing on offering unique value propositions to differentiate themselves from competitors. This has led to the introduction of new services such as same-day delivery, personalized recommendations, and loyalty programs.
Local special circumstances: Colombia's geography and infrastructure present unique challenges for Quick Commerce companies. The country's mountainous terrain and poor road conditions can make delivery times longer and more difficult to predict. Additionally, many consumers in rural areas lack access to reliable internet and mobile networks, making it difficult for them to use Quick Commerce services.
Underlying macroeconomic factors: Colombia's economy has been growing steadily in recent years, with a rising middle class and increasing levels of disposable income. This has led to increased consumer spending and a growing demand for online shopping. Additionally, the government has made efforts to improve the country's digital infrastructure, including expanding access to high-speed internet and promoting the adoption of mobile payments. These factors have created a favorable environment for the growth of the Quick Commerce market in Colombia.
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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