The Baltic region has seen a significant development in the retail delivery market in recent years.
Customer preferences: Customers in the Baltics are increasingly turning to online shopping due to its convenience and availability. The younger generation, in particular, is more tech-savvy and comfortable with online shopping, which has led to a surge in demand for e-commerce platforms. Customers are also seeking faster and more reliable delivery options, with same-day delivery becoming increasingly popular.
Trends in the market: The retail delivery market in the Baltics is highly competitive, with a large number of players offering various delivery options. Delivery companies are increasingly investing in technology and logistics to improve delivery times and efficiency. There has also been a rise in the use of alternative delivery methods, such as lockers and pick-up points, which offer customers greater flexibility and convenience.
Local special circumstances: The Baltics have a unique geography and infrastructure, which has had a significant impact on the retail delivery market. The region is relatively small, with a high population density, which makes it easier and more cost-effective for delivery companies to operate. However, the region's relatively underdeveloped road network and harsh winter weather conditions can pose challenges for delivery companies.
Underlying macroeconomic factors: The Baltic region has experienced strong economic growth in recent years, which has led to an increase in consumer spending and a growing middle class. This has created a favorable environment for the retail delivery market, as more consumers have disposable income to spend on online shopping. The region's strategic location at the crossroads of Northern and Eastern Europe has also made it an attractive location for logistics 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.
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