Suriname, a small South American country, has been witnessing a gradual increase in the online food delivery market in recent years. The market has been driven by changing consumer preferences, increasing internet penetration, and the growing popularity of food delivery apps.
Customer preferences: As in many other countries, consumers in Suriname are increasingly turning to online food delivery services for convenience and time-saving. The younger population, in particular, is more inclined towards online food delivery. They are also more willing to try new cuisines and are more open to experimenting with different food options.
Trends in the market: The online food delivery market in Suriname is still in its early stages, with a limited number of players operating in the market. However, there has been a significant increase in the number of food delivery apps in the country in recent years. The market is expected to continue to grow in the coming years, driven by the increasing popularity of food delivery apps and the growing number of restaurants offering delivery services.
Local special circumstances: Suriname is a small country with a relatively small population. This has led to a limited number of players operating in the online food delivery market. However, the market is expected to become more competitive in the coming years as more players enter the market. The country's infrastructure is still developing, and this may pose challenges for food delivery companies in terms of logistics and delivery times.
Underlying macroeconomic factors: Suriname has a relatively stable economy, with a GDP growth rate of around 2% in recent years. The country's economy is heavily dependent on the export of natural resources, such as gold and oil. The increasing popularity of online food delivery services is a reflection of changing consumer preferences and the growing influence of technology in the country. As the country's economy continues to develop, the online food delivery market is expected to grow further.
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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