The demand for grocery delivery services in Vietnam has been on the rise in recent years.
Customer preferences: Vietnamese consumers are increasingly turning to online grocery shopping due to the convenience it offers. With the busy lifestyles of modern consumers, the idea of having groceries delivered to their doorstep has become more appealing.
Trends in the market: The grocery delivery market in Vietnam has seen a significant increase in the number of players in recent years. Both local and international companies are competing to capture a share of the market. This has led to increased innovation in terms of delivery options and payment methods. Additionally, there has been a shift towards more sustainable and eco-friendly packaging options.
Local special circumstances: Vietnam's geography, with its long coastline and many rivers, has led to a unique distribution network for groceries. Many small boats and barges transport goods to remote villages and towns, making it challenging for traditional brick-and-mortar retailers to reach these areas. Grocery delivery services have been able to fill this gap in the market by offering delivery to even the most remote locations.
Underlying macroeconomic factors: Vietnam's growing middle class and increasing urbanization have contributed to the growth of the grocery delivery market. As more people move to cities, the demand for convenient and efficient delivery services has increased. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping in Vietnam, as consumers have become more cautious about going to physical stores. The government's efforts to promote e-commerce and digitalization have also contributed to the growth of the grocery delivery market.
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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