The Online Food Delivery market in Bosnia and Herzegovina has been rapidly developing in recent years.
Customer preferences: Bosnia and Herzegovina's population has a strong preference for traditional, home-cooked meals. However, the convenience of online food delivery services has become increasingly popular, especially among younger generations and urban areas. Customers appreciate the ability to order from a variety of local restaurants and have their food delivered directly to their doorstep.
Trends in the market: The Online Food Delivery market in Bosnia and Herzegovina has seen a significant increase in demand due to the COVID-19 pandemic. With lockdowns and restrictions on movement, more people have turned to online food delivery services as a safer and more convenient way to order food. This trend is expected to continue even after the pandemic subsides. Another trend in the market is the emergence of new online food delivery platforms, which have increased competition and expanded the options available to customers.
Local special circumstances: Bosnia and Herzegovina has a unique culinary tradition, with a variety of regional specialties and influences from neighboring countries. This has contributed to a diverse range of cuisines available for online delivery. However, the country's underdeveloped infrastructure and limited payment options have presented challenges for online food delivery services. Many customers still prefer to pay in cash upon delivery, which can be difficult to manage for online platforms.
Underlying macroeconomic factors: Bosnia and Herzegovina has a relatively low GDP per capita compared to other European countries, which has influenced customer behavior in the Online Food Delivery market. Customers are price-sensitive and often seek out affordable options, which has led to the popularity of fast food chains and lower-priced local restaurants. However, as the economy continues to develop, there is potential for higher-end restaurants and more premium food delivery options to emerge. Additionally, the country's tourism industry has been growing in recent years, which has increased demand for online food delivery services in popular tourist destinations.
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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