Lesotho, a small country surrounded by South Africa, has seen a growing trend in the Online Food Delivery market in recent years.
Customer preferences: Lesotho's population has a growing demand for convenience and speed, which has led to an increase in the use of online food delivery services. Customers prefer to order food online, rather than going to restaurants or cooking at home, as it saves time and effort. Additionally, the younger generation is more inclined towards ordering food online due to their busy lifestyles and the convenience offered by online food delivery platforms.
Trends in the market: The Online Food Delivery market in Lesotho has seen a surge in the number of players in the market, with both local and international players entering the market. This has led to increased competition, resulting in improved services and lower prices for customers. Furthermore, the COVID-19 pandemic has accelerated the growth of the online food delivery market in Lesotho, as people have been forced to stay at home and avoid crowded places.
Local special circumstances: Lesotho is a small country with a population of approximately 2 million people. This presents a challenge for online food delivery companies, as they have to ensure that their services are available in all parts of the country. Moreover, Lesotho is a landlocked country, which means that the cost of importing food items is higher than in coastal countries. This has led to a focus on locally sourced ingredients, which has become a unique selling point for some online food delivery companies.
Underlying macroeconomic factors: Lesotho has a growing middle class, which has led to an increase in disposable income. This has resulted in a higher demand for convenience and luxury goods, including online food delivery services. Furthermore, Lesotho's economy is heavily reliant on the textile industry, which has been affected by the COVID-19 pandemic. This has led to a shift in focus towards other sectors, including the online food 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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