Equatorial Guinea, a small country located in Central Africa, has been experiencing growth in its retail delivery market in recent years.
Customer preferences: Due to the country's small size and limited infrastructure, many consumers in Equatorial Guinea prefer to shop online and have their purchases delivered directly to their homes. This is especially true for those living in rural areas, where access to physical stores may be limited. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers have become more hesitant to venture out to physical stores.
Trends in the market: One of the main trends in the retail delivery market in Equatorial Guinea is the growth of e-commerce platforms. These platforms offer consumers a wide range of products and the convenience of shopping from home. Furthermore, many e-commerce platforms have implemented cash-on-delivery options, which is important in a country where many consumers do not have access to credit cards or other forms of electronic payment.Another trend in the market is the emergence of local delivery companies. These companies specialize in last-mile delivery, which is particularly important in a country where infrastructure is limited and roads may be difficult to navigate. These companies often partner with e-commerce platforms to provide delivery services to their customers.
Local special circumstances: Equatorial Guinea has a small population and limited infrastructure, which presents unique challenges for the retail delivery market. However, the country's small size also means that delivery times can be relatively short, which is a selling point for many consumers. Additionally, the country's high GDP per capita means that there is a growing middle class with disposable income to spend on retail goods.
Underlying macroeconomic factors: Equatorial Guinea has experienced economic growth in recent years, driven largely by its oil and gas industry. This has led to an increase in disposable income and consumer spending. However, the country's economy is heavily dependent on oil and gas exports, which makes it vulnerable to fluctuations in global commodity prices. Additionally, the country has a relatively high poverty rate, which limits the size of the consumer market.
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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