Armenia, a country in the South Caucasus region, has seen a steady growth in the restaurant delivery market in recent years.
Customer preferences: Armenians have a strong culinary culture and take pride in their traditional dishes. However, with the rise of globalization, there has been an increasing demand for international cuisine. As a result, restaurants offering a variety of cuisines have become popular among Armenians. In addition, the busy lifestyles of urban Armenians have led to a rise in the demand for convenient food delivery services.
Trends in the market: The restaurant delivery market in Armenia has seen a significant increase in the number of food delivery apps and services. These platforms offer a wide range of options, from fast food to high-end restaurants. The market has become highly competitive, with companies offering discounts, promotions, and loyalty programs to attract customers. Additionally, many restaurants have started to prioritize delivery services as a way to increase their revenue.
Local special circumstances: Armenia has a small population and a relatively small market, which has led to a limited number of international food chains operating in the country. As a result, local restaurants have been able to dominate the market and offer unique and authentic Armenian cuisine. Additionally, the country has a high rate of internet and smartphone usage, which has made food delivery apps and services easily accessible.
Underlying macroeconomic factors: Armenia has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has contributed to the growth of the restaurant delivery market, as more Armenians are able to afford dining out and ordering food delivery. Furthermore, the COVID-19 pandemic has accelerated the growth of the market, as people have been forced to stay at home and rely on food delivery services. In conclusion, the restaurant delivery market in Armenia has seen significant growth due to changing customer preferences, a highly competitive market, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it will be interesting to see how restaurants and delivery services adapt to meet the changing needs and demands of Armenian consumers.
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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