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Montenegro, a small country in Southeast Europe, has been experiencing a steady growth in its retail delivery market.
Customer preferences: Montenegrins have shown a preference for online shopping in recent years, especially during the COVID-19 pandemic when many were forced to stay at home. This has led to an increase in demand for retail delivery services, as customers seek convenience and safety in receiving their purchases directly at their doorstep.
Trends in the market: The retail delivery market in Montenegro has been expanding rapidly, with both local and international players entering the market. Many retailers have started offering their own delivery services, while third-party delivery companies have also emerged to cater to the growing demand. Additionally, there has been a shift towards same-day and next-day delivery options, as customers expect faster and more efficient service.
Local special circumstances: Montenegro's small size and mountainous terrain present unique challenges for retail delivery companies. Logistics can be difficult, especially in rural areas where roads may be narrow and winding. However, this has also created opportunities for companies to innovate and develop specialized delivery solutions, such as drones or electric bicycles.
Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, with a focus on tourism and foreign investment. This has led to an increase in disposable income and consumer spending, which has in turn fueled the growth of the retail delivery market. Additionally, Montenegro's strategic location in the Balkans has made it an attractive market for international retailers and delivery companies looking to expand their reach in the region.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)