Senegal, a country in West Africa, is experiencing a shift in the Retail Delivery market.
Customer preferences: Customers in Senegal are increasingly turning to online shopping, with a particular interest in purchasing groceries and household essentials. This shift in consumer behavior is driven by the convenience of online shopping, as well as the ability to compare prices and products across multiple retailers. Additionally, customers are becoming more concerned about the safety of in-person shopping due to the COVID-19 pandemic.
Trends in the market: The Retail Delivery market in Senegal is experiencing significant growth, with both local and international retailers entering the market. Local retailers are expanding their online presence and delivery capabilities, while international retailers are partnering with local companies to tap into the growing market. This competition is driving innovation in the market, with retailers offering faster delivery times, expanded product offerings, and more convenient payment options.
Local special circumstances: Senegal has a young and rapidly growing population, with a median age of just 19 years. This demographic is highly connected and tech-savvy, making them well-suited to online shopping. Additionally, Senegal is home to a large informal economy, which has been negatively impacted by the COVID-19 pandemic. This has led to an increase in entrepreneurship and the development of new business models, including online marketplaces and delivery services.
Underlying macroeconomic factors: Senegal has a growing economy, with a GDP growth rate of around 6% in recent years. This growth is driven by the agriculture, tourism, and services sectors, which are all closely linked to the Retail Delivery market. Additionally, Senegal has made significant investments in infrastructure, including the construction of a new airport and the expansion of the port of Dakar. These investments are improving logistics capabilities and making it easier for retailers to transport goods across the country.
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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