Key regions: China, Japan, Germany, United Kingdom, France
Guatemala, a country in Central America, has been experiencing a gradual shift towards eCommerce over the past few years.
Customer preferences: Guatemalan consumers have been increasingly turning to online shopping due to the convenience it offers. With the rise of smartphone usage, consumers can easily browse and purchase products online, making the process more accessible. Furthermore, the COVID-19 pandemic has accelerated the adoption of eCommerce as consumers have been forced to stay at home and avoid physical stores.
Trends in the market: The eCommerce Software market in Guatemala has been growing steadily, with more businesses adopting eCommerce platforms to reach a wider audience. Small and medium-sized enterprises (SMEs) have been a driving force in this trend, as they seek to expand their customer base beyond their local areas. Additionally, the rise of social media platforms has made it easier for businesses to market their products and reach potential customers. As a result, eCommerce platforms that integrate with social media have become increasingly popular.
Local special circumstances: One of the challenges that eCommerce businesses face in Guatemala is the lack of infrastructure, particularly in rural areas. This can make it difficult to deliver products to customers in a timely and cost-effective manner. Additionally, consumers in Guatemala are still somewhat hesitant to purchase products online, with many preferring to see and touch products before making a purchase. This has led to the rise of hybrid models, where businesses have both physical stores and online platforms.
Underlying macroeconomic factors: Guatemala has a relatively young population, with a median age of 22. This demographic tends to be more tech-savvy and comfortable with online shopping, which has contributed to the growth of the eCommerce market. Additionally, the Guatemalan economy has been growing steadily in recent years, which has led to an increase in disposable income. As a result, consumers have more money to spend on discretionary items, including online purchases. However, the country still faces challenges related to poverty and inequality, which can limit the growth of the eCommerce market in certain areas.
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.Forecasts:
We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
