Puerto Rico, a Caribbean island, has been experiencing a surge in the online food delivery market in recent years. The market has been growing at a steady pace, and the trend is expected to continue in the coming years.
Customer preferences: Customers in Puerto Rico have shown a growing preference for online food delivery services due to their convenience and ease of use. The ability to browse menus, place orders, and pay online has made the process of ordering food much more convenient for customers. Additionally, the COVID-19 pandemic has further accelerated the adoption of online food delivery services, as customers have been hesitant to dine out and have been looking for safer options.
Trends in the market: One of the major trends in the online food delivery market in Puerto Rico is the increasing number of players entering the market. This has led to intense competition, with companies offering various discounts and promotions to attract customers. Another trend is the increasing popularity of healthy and organic food options, as customers become more health-conscious and aware of the impact of their food choices.
Local special circumstances: Puerto Rico's unique geography and climate have led to the development of a distinct culinary culture, with a mix of Spanish, African, and indigenous influences. This has resulted in a diverse and vibrant food scene, with a wide range of dishes and flavors. Additionally, Puerto Rico has a large tourism industry, with visitors from around the world coming to experience the island's culture and cuisine. This has created a significant demand for online food delivery services, as tourists look for convenient and reliable ways to sample the local cuisine.
Underlying macroeconomic factors: Puerto Rico has a relatively high poverty rate and a struggling economy, which has led to a growing demand for affordable food options. Online food delivery services have become an attractive option for customers looking for affordable and convenient meals. Additionally, the island's infrastructure and transportation systems are still recovering from the damage caused by Hurricane Maria in 2017, which has made it difficult for some customers to access traditional food options. Online food delivery services have helped to bridge this gap, providing customers with easy access to a wide range of food options.
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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