Retail Delivery - Sri Lanka

  • Sri Lanka
  • The Reail Delivery market in Sri Lanka is set to experience significant growth in the coming years.
  • By 2024, the projected revenue is expected to reach US$298.50m.
  • This promising trend is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 11.59%, resulting in a projected market volume of US$516.40m by 2029.
  • As the market expands, the number of users is also expected to increase.
  • By 2029, it is estimated that the number of users in the Reail Delivery market in Sri Lanka will reach 3.5m users.
  • This growth in user base is reflected in the rising user penetration, which is projected to be 11.2% in 2024 and is expected to reach 15.9% by 2029.
  • In terms of revenue per user, the average revenue per user (ARPU) is expected to be US$121.60.
  • This indicates the potential for revenue generation per individual user in the Reail Delivery market in Sri Lanka.
  • When compared globally, it is worth noting that United States is anticipated to generate the highest revenue in the Reail Delivery market, with an estimated revenue of US$195,400.00m in 2024.
  • This showcases the significant market size and potential United States.
  • Furthermore, in terms of user penetration, United States is expected to have the highest rate at 30.4% in the Reail Delivery market.
  • This highlights the market's strong presence and adoption United States.
  • Overall, the Reail Delivery market in Sri Lanka is poised for growth, with promising revenue projections, increasing user base, and potential for revenue generation per user.
  • In Sri Lanka, the retail delivery market is experiencing a surge in online grocery shopping, driven by the convenience and safety it offers amidst the ongoing pandemic.
 
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Analyst Opinion

The Retail Delivery market in Sri Lanka has seen significant growth in recent years.

Customer preferences:
Sri Lankan consumers are increasingly turning to online shopping, driven by the convenience and accessibility of e-commerce platforms. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in demand for online delivery services. Consumers are also becoming more discerning, seeking out high-quality products and personalized shopping experiences.

Trends in the market:
The Retail Delivery market in Sri Lanka is characterized by intense competition, with a range of local and international players vying for market share. One key trend is the growing popularity of same-day and next-day delivery services, as consumers seek faster and more efficient delivery options. Another trend is the rise of mobile commerce, with an increasing number of consumers using their smartphones to shop online.

Local special circumstances:
Sri Lanka's retail delivery market is unique in that it is heavily influenced by the country's geography and infrastructure. With many rural areas lacking adequate road networks and transportation links, delivery companies face significant challenges in reaching customers outside of major urban centers. This has led to the development of specialized delivery services, such as motorbike couriers, that are better equipped to navigate Sri Lanka's diverse terrain.

Underlying macroeconomic factors:
Sri Lanka's booming retail delivery market is underpinned by a number of macroeconomic factors, including a rapidly expanding middle class, rising disposable incomes, and increasing internet penetration rates. The government's efforts to improve digital infrastructure and promote e-commerce are also playing a key role in driving growth in the sector. However, the market is not without its challenges, including high logistics costs, regulatory hurdles, and concerns around data privacy and security.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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