Retail Delivery - Cuba

Cuba

Highlights

The Reail Delivery market in Cuba is projected to reach a revenue of US$57.90m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 7.46%, resulting in a projected market volume of US$82.97m by 2029.
By that time, the number of users in the Reail Delivery market is expected to amount to 860.1k users.
The user penetration in 2024 will be 7.0% and is expected to increase to 7.8% by 2029.
The average revenue per user (ARPU) is projected to be US$74.38.
In a global comparison, United States is expected to generate the most revenue in the Reail Delivery market, with US$195.40bn in 2024.
The United States, on the other hand, is projected to have the highest user penetration rate at 30.4%.
With the recent relaxation of trade restrictions, Cuba is experiencing a surge in online retail delivery services, providing convenient access to goods previously unavailable to its citizens.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cuban economy has been undergoing a significant transformation in recent years, and this has had a profound impact on the retail delivery market in the country.

Customer preferences: Cuban consumers have traditionally been limited in their choices when it comes to shopping, but the growth of e-commerce has opened up new possibilities for them. Many consumers are now looking for more convenient and efficient ways to shop, which has led to a surge in demand for retail delivery services.

Trends in the market: One of the key trends in the Cuban retail delivery market is the rise of online shopping. As more consumers become connected to the internet, they are increasingly turning to e-commerce platforms to purchase goods. This has led to a proliferation of online retailers and delivery services, as companies compete to meet the growing demand.Another trend in the market is the emergence of new delivery models. In order to meet the unique challenges of the Cuban market, many companies are experimenting with innovative delivery methods, such as drone delivery or mobile delivery trucks. These approaches allow companies to reach customers in areas that might be difficult to access using traditional delivery methods.

Local special circumstances: The Cuban retail delivery market is unique in many ways, and this has created some special circumstances that companies need to be aware of. For example, the country's infrastructure is still developing, which can make it difficult to deliver goods to certain areas. Additionally, the government has strict regulations on the import and export of goods, which can make it challenging for companies to source the products they need.

Underlying macroeconomic factors: The growth of the retail delivery market in Cuba is being driven by a number of underlying macroeconomic factors. For one, the country is experiencing a period of economic liberalization, which has led to increased foreign investment and a more open market. Additionally, the government has been investing heavily in infrastructure, which has helped to improve logistics and transportation networks. Finally, the country's young and tech-savvy population is driving demand for online shopping and delivery services.

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.