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Retail Delivery - Lithuania

Lithuania

The Reail Delivery market in Lithuania is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$69.79m Lithuanian Litas.
This growth is further expected to continue with an annual growth rate of 11.82% from 2024 to 2029.
As a result, the market volume is projected to reach US$122.00m Lithuanian Litas by 2029.
In terms of user base, the number of users in the Reail Delivery market is expected to reach 480.5k users by 2029.
The user penetration rate, which indicates the percentage of the total population using retail delivery services, is projected to increase from 14.6% in 2024 to 18.6% by 2029.
The average revenue per user (ARPU) is estimated to be US$177.50 Lithuanian Litas.
This metric helps gauge the average spending by individual users in the Reail Delivery market.
In a global context, it is interesting to note that United States is expected to generate the highest revenue in the Reail Delivery market, reaching a staggering US$195,400.00m Lithuanian Litas in 2024.
However, when considering user penetration, United States leads the way with a projected rate of 30.4%.
Overall, the Reail Delivery market in Lithuania is poised for growth, with significant potential in terms of revenue, user base, and market penetration.
In Lithuania, there is a growing trend of retailers offering same-day delivery services to cater to the increasing demand for convenience among consumers.

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Analyst Opinion

The Retail Delivery market in Lithuania has been experiencing significant growth in recent years.

Customer preferences: Customers in Lithuania are increasingly turning to online shopping, with a particular emphasis on convenience and speed of delivery. As a result, retailers are investing in their delivery infrastructure to provide faster and more reliable delivery options to their customers.

Trends in the market: One of the key trends in the Lithuanian Retail Delivery market is the rise of same-day and next-day delivery services. Retailers are partnering with local delivery companies to offer these services, which are becoming increasingly popular among customers.Another trend in the market is the growth of parcel locker networks. These lockers provide a convenient and secure way for customers to receive their deliveries, and they are becoming more common in Lithuanian cities and towns.

Local special circumstances: One of the unique features of the Lithuanian Retail Delivery market is its high level of competition. There are several local delivery companies operating in the country, as well as international players such as DHL and UPS. This competition is driving innovation and investment in delivery infrastructure, which is benefiting both retailers and customers.

Underlying macroeconomic factors: The growth of the Lithuanian Retail Delivery market is being driven by a combination of factors, including the country's strong economic performance, increasing internet penetration, and changing consumer preferences. As more Lithuanians shop online, retailers are responding by investing in their delivery infrastructure to provide faster and more reliable delivery options. Additionally, the country's strategic location in the heart of Europe makes it an attractive destination for logistics companies looking to expand their operations in the region.

Methodology

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.