Quick Commerce, also known as Q-Commerce, is a rapidly growing market that has seen significant growth in Montenegro in recent years.
Customer preferences: Montenegro's consumers are increasingly turning to online shopping and delivery services due to the convenience and speed of these services. Quick Commerce companies are able to provide customers with fast delivery times, often within an hour or two of placing an order. This is particularly appealing to busy consumers who value their time and are willing to pay a premium for fast delivery.
Trends in the market: One of the major trends in the Quick Commerce market in Montenegro is the increasing number of players entering the market. As the market grows and becomes more competitive, companies are looking for ways to differentiate themselves and provide unique value to customers. This has led to a focus on specialized services such as grocery delivery, restaurant delivery, and pharmaceutical delivery.Another trend in the Quick Commerce market in Montenegro is the increasing use of technology to streamline operations and improve the customer experience. Many Quick Commerce companies are investing in mobile apps and other digital platforms to make it easier for customers to place orders and track deliveries. Additionally, companies are using data analytics and machine learning to optimize delivery routes and improve overall efficiency.
Local special circumstances: Montenegro's small size and relatively low population density make it an ideal market for Quick Commerce companies. Delivery times are relatively short, and the small size of the country means that companies can quickly expand their delivery networks to cover the entire country. Additionally, Montenegro's growing tourism industry provides an opportunity for Quick Commerce companies to serve visitors who may not be familiar with the local area.
Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, driven in part by the country's growing tourism industry. This has led to an increase in disposable income and consumer spending, which has helped to fuel the growth of the Quick Commerce market. Additionally, Montenegro's relatively low labor costs and favorable business environment have made it an attractive market for Quick Commerce companies looking to expand their operations.
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)
