In recent years, Montenegro has experienced significant growth in the Online Food Delivery market, with more and more consumers opting for the convenience of having food delivered to their doorstep.
Customer preferences: Montenegrin consumers, like many others around the world, are increasingly turning to online food delivery services for their convenience and ease of use. With busy lifestyles and a desire for instant gratification, consumers are willing to pay a premium for the convenience of having food delivered to their homes or offices. As a result, online food delivery platforms have become increasingly popular in Montenegro, with a growing number of restaurants partnering with delivery services to offer their menus to a wider audience.
Trends in the market: One of the key trends in the Montenegrin Online Food Delivery market is the increasing popularity of mobile apps for ordering food. Consumers are increasingly using their smartphones to order food, with many platforms offering mobile apps that allow customers to browse menus, place orders, and track deliveries in real-time. This trend is likely to continue as more and more consumers become comfortable with using mobile apps for a variety of tasks.Another trend in the Montenegrin Online Food Delivery market is the increasing number of delivery options available to consumers. In addition to traditional delivery services, many platforms are now offering new delivery options such as pick-up points and self-service kiosks. These options allow consumers to receive their food more quickly and efficiently, while also reducing the cost of delivery for restaurants.
Local special circumstances: One of the unique challenges facing the Montenegrin Online Food Delivery market is the relatively small size of the country. With a population of just over 600,000, the market for online food delivery is relatively small compared to larger countries. This has led to a highly competitive market, with a limited number of players vying for a share of the market.
Underlying macroeconomic factors: Despite these challenges, the Montenegrin Online Food Delivery market is expected to continue growing in the coming years. This is due in part to the country's growing tourism industry, which is driving demand for food delivery services among both locals and tourists. Additionally, as more consumers become comfortable with using mobile apps for a variety of tasks, the demand for online food delivery services is likely to continue to grow. Overall, the Montenegrin Online Food Delivery market is poised for continued growth and innovation in the years to come.
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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