Meal delivery services have been gaining popularity in Mongolia in recent years, with a growing number of consumers opting for the convenience and time-saving benefits that these services offer.
Customer preferences: Mongolian consumers, particularly those living in urban areas, are increasingly turning to meal delivery services due to their busy lifestyles and the convenience that these services offer. Additionally, consumers are becoming more health-conscious and are looking for healthy meal options that are both convenient and affordable. As a result, many meal delivery companies in Mongolia are now offering healthy meal options that cater to these preferences.
Trends in the market: One of the key trends in the Mongolian meal delivery market is the increasing use of technology to facilitate the delivery process. Many companies are now using mobile apps to allow customers to place orders and track their delivery in real-time. This has made the process more convenient for customers and has also helped to improve delivery times.Another trend in the market is the increasing competition among meal delivery companies. As the market becomes more crowded, companies are looking for ways to differentiate themselves from their competitors. This has led to the introduction of new meal options and the use of marketing campaigns to attract customers.
Local special circumstances: Mongolia's harsh winters can make it difficult for consumers to leave their homes and purchase food. As a result, meal delivery services have become particularly popular during the winter months. Additionally, the country's rapidly growing urban population has created a large market for meal delivery services.
Underlying macroeconomic factors: Mongolia's economy has been growing rapidly in recent years, with a particular focus on urban development. This has created a large market for meal delivery services, as consumers in urban areas are more likely to have busy lifestyles and be in need of convenient meal options. Additionally, the country's growing middle class has more disposable income to spend on these services.
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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