Retail Delivery - Togo

Togo

Highlights

The Reail Delivery market in Togo is projected to reach a revenue of US$4.55m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 14.14%, resulting in a projected market volume of US$8.82m by 2029.
In Togo's Reail Delivery market, the number of users is expected to amount to 865.3k users by 2029.
The user penetration is predicted to be 5.3% in 2024 and is projected to increase to 8.4% by 2029.
The average revenue per user (ARPU) is expected to be US$9.20.
In comparison to other countries, United States is projected to generate the highest revenue in the Reail Delivery market, reaching US$195.40bn in 2024.
The United States, on the other hand, is expected to have the highest user penetration rate with a projected rate of 30.4%.
The retail delivery market in Togo has seen a significant increase in online shopping due to the convenience and accessibility it offers to consumers.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The retail delivery market in Togo has been experiencing significant growth in recent years due to various factors.

Customer preferences: Togolese customers have shown a growing preference for online shopping, particularly in urban areas. This is due to the convenience of shopping from home, the wider range of products available online, and the ability to compare prices across different retailers. Additionally, customers in Togo value fast and reliable delivery services, which has led to an increase in demand for same-day and next-day delivery options.

Trends in the market: One of the key trends in the Togolese retail delivery market is the growth of e-commerce platforms. These platforms have become increasingly popular among customers due to their user-friendly interfaces and the ability to purchase a wide range of products from different retailers in one place. Another trend is the expansion of delivery services to rural areas, which has been made possible by the increasing availability of mobile technology and the growth of logistics companies in the country.

Local special circumstances: Togo is a small country with a relatively underdeveloped retail sector. This has created opportunities for new players to enter the market and disrupt traditional retail channels. Additionally, the country's informal economy is a significant factor in the retail delivery market, with many small businesses relying on informal delivery networks to transport goods.

Underlying macroeconomic factors: The Togolese economy has been growing steadily in recent years, with a focus on increasing investment in infrastructure and improving the business environment. This has created opportunities for companies to expand their operations and invest in new technologies to improve their delivery services. Additionally, the government has implemented policies to support the growth of the e-commerce sector, such as reducing taxes on imported goods and improving customs procedures.

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.