Retail Delivery - Caribbean

Caribbean

Highlights

The Reail Delivery market in the Caribbean is projected to reach a revenue of US$610.30m by 2024.
This market is expected to show an annual growth rate (CAGR 2024-2029) of 3.93%, resulting in a projected market volume of US$740.00m by 2029.
By 2029, the number of users in the Reail Delivery market is expected to amount to 7.2m users.
The user penetration in this market is predicted to be 13.2% in 2024 and is expected to reach 17.2% by 2029.
The average revenue per user (ARPU) is estimated to be US$114.30.
In global comparison, United States is projected to generate the most revenue in the Reail Delivery market, with an expected revenue of US$195.40bn in 2024.
The United States, on the other hand, is expected to have the highest user penetration rate in the Reail Delivery market, with a projected rate of 30.4%.
In the Caribbean, the retail delivery market is experiencing a surge in online shopping due to the convenience and safety it offers amidst the COVID-19 pandemic.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Caribbean region is known for its beautiful beaches, vibrant culture and delicious cuisine. However, the Retail Delivery market in the Caribbean is also a growing industry that has seen significant development in recent years.

Customer preferences: Customers in the Caribbean have shown a preference for convenience and speed when it comes to retail delivery. With many islands spread out across the region, customers are looking for options that can deliver products quickly and efficiently. This has led to an increase in demand for same-day and next-day delivery services.

Trends in the market: One of the key trends in the Caribbean Retail Delivery market is the rise of e-commerce. As more customers turn to online shopping, retailers are looking for ways to meet this demand. This has led to an increase in the number of companies offering online ordering and delivery services. Additionally, there has been a growing trend of retailers partnering with local delivery companies to provide faster and more reliable delivery options.

Local special circumstances: The Caribbean region is unique in that it is made up of many small islands, each with its own unique culture and economy. This has created challenges for retailers looking to expand their delivery services across the region. However, it has also led to opportunities for local delivery companies to establish themselves as experts in their respective markets.

Underlying macroeconomic factors: The growth of the Retail Delivery market in the Caribbean can be attributed to several underlying macroeconomic factors. One of the key drivers is the region's growing middle class, which has more disposable income to spend on retail products. Additionally, improvements in infrastructure, such as new highways and ports, have made it easier and more cost-effective for retailers to transport goods across the region. Finally, the rise of e-commerce globally has had a significant impact on the Caribbean market, as more customers turn to online shopping and expect fast and reliable delivery options.

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.