Retail Delivery - Puerto Rico

Puerto Rico

Highlights

The Reail Delivery market in Puerto Rico is projected to reach a revenue of US$132.90m in 2024.
This market is expected to display a compound annual growth rate (CAGR 2024-2029) of 6.61%, resulting in a projected market volume of US$183.00m by 2029.
In terms of user base, the number of users in Puerto Rico's Reail Delivery market is expected to reach 702.6k users by 2029.
The user penetration rate, which is currently at 17.4% in 2024, is projected to increase to 21.5% by 2029.
The average revenue per user (ARPU) is expected to be US$233.00.
When comparing globally, the highest revenue generation is anticipated United States, with a projected revenue of US$195.40bn in 2024.
On the other hand, United States is expected to have the highest user penetration rate in the Reail Delivery market, with a projected rate of 30.4%.
Puerto Rico's retail delivery market has witnessed a significant surge in online grocery shopping due to the convenience and safety it offers amidst the Covid-19 pandemic.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Retail delivery market in Puerto Rico has been experiencing a steady growth in the recent years. With the increasing number of online shoppers, the demand for delivery services has also been on the rise.

Customer preferences: Customers in Puerto Rico have been increasingly relying on online shopping for their daily needs. This has led to a surge in demand for convenient and reliable delivery services. With the busy lifestyle of people, they prefer to have their purchases delivered directly to their doorstep.

Trends in the market: One of the major trends in the retail delivery market in Puerto Rico is the rise of same-day delivery services. Retailers are now offering same-day delivery services to cater to the increasing demand for quick and efficient delivery. Another trend is the use of technology in the delivery process. Retailers are using advanced technologies such as drones and robots to deliver packages. This not only reduces the delivery time but also makes the process more efficient.

Local special circumstances: Puerto Rico is a small island, which presents unique challenges for delivery companies. The geography of the island makes it difficult to deliver packages to certain areas. Additionally, the island has a unique culture and language, which requires delivery companies to tailor their services to the local population.

Underlying macroeconomic factors: The economy of Puerto Rico has been struggling in recent years, which has led to an increase in online shopping. As people look for ways to save money, they are turning to online shopping to find better deals. Additionally, the island has a large population of elderly people who are unable to leave their homes. This has led to an increase in demand for delivery services. The growth of the retail delivery market in Puerto Rico is expected to continue as more people turn to online shopping for their daily needs.

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.