Quick Commerce - Uruguay

Uruguay

Highlights

The Quick Commerce market in Uruguay is projected to reach a revenue of US$45.81m in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 5.01%, resulting in a projected market volume of US$58.51m by 2029.
In Uruguay's Quick Commerce market, the number of users is expected to reach 545.4k users by 2029.
The user penetration rate, which is currently 11.8% in 2024, is expected to increase to 15.9% by 2029.
The average revenue per user (ARPU) is projected to be US$113.00.
In global comparison, China is expected to generate the highest revenue in the Quick Commerce market, with US$80.84bn in 2024.
Furthermore, China also holds the highest user penetration rate in the Quick Commerce market, projected to be 21.4%.
Uruguay's quick commerce market is flourishing with the rise of online platforms and delivery services catering to the growing demand for convenient and fast shopping experiences.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Quick Commerce market in Uruguay has been steadily growing over the past few years, driven by changing customer preferences and local special circumstances.

Customer preferences: Uruguayans are increasingly looking for convenience in their daily lives, and Quick Commerce (QC) services provide just that. With busy work schedules and long commutes, consumers are opting for fast and efficient delivery of their daily essentials. Additionally, the COVID-19 pandemic has accelerated the adoption of QC services as consumers look for contactless delivery options.

Trends in the market: The QC market in Uruguay is dominated by local players, who have been expanding their operations to meet the growing demand. These players are leveraging technology to offer a seamless customer experience, with easy-to-use mobile apps and websites. Additionally, there has been a trend towards partnerships between QC providers and traditional retailers, allowing consumers to order groceries and other essentials from their favorite stores.

Local special circumstances: Uruguay has a small population of just over 3 million people, which presents unique challenges and opportunities for QC providers. On the one hand, the market size is limited, which means that providers need to be strategic in their expansion plans. On the other hand, the small population means that there is a strong sense of community, which can be leveraged by QC providers to build brand loyalty and trust.

Underlying macroeconomic factors: Uruguay has a stable economy with a relatively high GDP per capita, which means that consumers have disposable income to spend on QC services. Additionally, the country has a well-developed logistics infrastructure, which makes it easier for QC providers to operate efficiently. However, there are also challenges such as high levels of inflation and a relatively small e-commerce market, which can impact the growth of the QC market in the long run.

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.