Bhutan, a small country nestled in the Himalayas, is known for its unique culture, stunning landscapes, and commitment to Gross National Happiness. In recent years, the country has also seen the development of its Retail Delivery market.
Customer preferences: Bhutanese customers, like many around the world, are increasingly turning to online shopping for its convenience and accessibility. With a small population and limited retail options, e-commerce platforms offer a wider range of products and services that were previously unavailable in the country. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping as more people seek to avoid crowded public spaces.
Trends in the market: The Retail Delivery market in Bhutan is still in its early stages, but it is growing rapidly. Local e-commerce platforms have emerged to cater to the needs of Bhutanese customers, offering a range of products from groceries to electronics. These platforms have also partnered with local retailers to expand their offerings and provide a more seamless shopping experience. Another trend in the market is the emergence of last-mile delivery services, which are essential in a country with limited transportation infrastructure.
Local special circumstances: Bhutan's unique geography and infrastructure present challenges for the Retail Delivery market. The country's mountainous terrain and limited road network make it difficult to transport goods, particularly in rural areas. Additionally, Bhutan's commitment to preserving its environment means that sustainable and eco-friendly delivery options are a priority for many customers.
Underlying macroeconomic factors: Bhutan's economy is heavily reliant on the tourism industry, which has been severely impacted by the COVID-19 pandemic. As a result, the government has been looking to diversify the economy and promote other sectors, including e-commerce. The country's young and tech-savvy population also presents an opportunity for the growth of the Retail Delivery market. However, Bhutan's small market size and limited purchasing power may pose challenges for the sustainability of the market in the long term.
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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