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The Retail Delivery market in Panama has been experiencing significant growth in recent years.
Customer preferences: Panamanian consumers have shown a growing preference for online shopping and home delivery services. This trend has been driven by the convenience and time-saving benefits of online shopping, as well as the increasing availability of e-commerce platforms and mobile applications. In addition, the COVID-19 pandemic has accelerated the adoption of online shopping and home delivery services, as consumers seek to avoid crowded stores and minimize their exposure to the virus.
Trends in the market: The Retail Delivery market in Panama has been marked by the entry of new players, both local and international, which has increased competition and driven innovation in the sector. One of the key trends in the market has been the expansion of delivery services beyond traditional retail categories, such as groceries and consumer electronics, to include a wider range of products and services, such as prepared meals, personal care items, and prescription drugs. Another trend has been the adoption of new technologies, such as drones and autonomous vehicles, to improve the efficiency and speed of deliveries.
Local special circumstances: Panama's strategic location as a transportation hub and its growing middle class have made it an attractive market for retailers and delivery companies. However, the country's geography, with its many islands and mountainous terrain, presents logistical challenges for delivery companies, particularly in rural areas. In addition, the country's high crime rate has led to concerns about the safety of delivery drivers and the security of packages.
Underlying macroeconomic factors: Panama's strong economic growth and stable political environment have created a favorable business climate for retailers and delivery companies. The country's growing middle class and increasing urbanization have also contributed to the expansion of the Retail Delivery market. However, the country's dependence on international trade and its vulnerability to external economic shocks, such as the COVID-19 pandemic, pose risks to the sector's continued growth.
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)