The Platform Delivery market in Latvia has seen significant growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.
Customer preferences: Latvian customers increasingly prefer the convenience and speed of platform delivery services. This trend is consistent with global market trends, as customers worldwide increasingly expect fast and reliable delivery of goods and services. Additionally, Latvian customers are becoming more comfortable with online shopping, which has further fueled demand for platform delivery services.
Trends in the market: One of the key trends in the Platform Delivery market in Latvia is the rise of local players. While international platform delivery companies have a presence in Latvia, local companies have gained significant market share by offering tailored services and competitive pricing. Additionally, there has been a trend towards consolidation in the market, as smaller companies merge or are acquired by larger players.Another trend is the increasing use of technology to improve delivery efficiency and customer experience. This includes the use of drones and autonomous vehicles for delivery, as well as the development of sophisticated logistics software to optimize delivery routes and schedules.
Local special circumstances: One unique aspect of the Platform Delivery market in Latvia is the country's geography. With a relatively small population spread across a large area, delivery companies face challenges in reaching customers in remote or rural areas. This has led to the development of specialized delivery services for these areas, including partnerships with local businesses and the use of alternative delivery methods such as bicycles.
Underlying macroeconomic factors: The growth of the Platform Delivery market in Latvia is also influenced by macroeconomic factors such as rising disposable income and increasing urbanization. As more Latvians move to cities and earn higher incomes, they are more likely to use platform delivery services for convenience and time-saving purposes. Additionally, the growth of e-commerce in Latvia has contributed to the growth of the Platform Delivery market, as more businesses offer online shopping options and require reliable delivery 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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