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Quick Commerce - Bulgaria

Bulgaria

The Quick Commerce market in Bulgaria is anticipated to achieve a revenue of US$18.80m in 2024.
This projection indicates an estimated annual growth rate (CAGR 2024-2029) of 5.45%, resulting in a market volume of US$24.51m by 2029.
Within the Quick Commerce market in Bulgaria, the number of users is projected to reach 443.0k users by 2029.
Furthermore, the user penetration rate is expected to increase from 5.2% in 2024 to 7.0% by 2029.
The average revenue per user (ARPU) is estimated to be US$54.87.
In a global context, China is anticipated to generate the highest revenue, with US$80,840.00m in 2024.
Notably, China also possesses the highest user penetration rate in the Quick Commerce market, with a projected rate of 21.4%.
Bulgaria's quick commerce market is experiencing a surge in demand, with consumers increasingly seeking convenience and quick delivery options for their everyday needs.

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Analyst Opinion

The Quick Commerce market in Bulgaria has been experiencing significant growth in recent years.

Customer preferences: Bulgarian consumers are increasingly turning to online shopping due to the convenience it offers. The rise of Quick Commerce has been driven by the need for faster delivery times and the ability to order products on-the-go. As a result, many consumers are choosing to shop with Quick Commerce platforms that offer a wide range of products and fast delivery times.

Trends in the market: The Quick Commerce market in Bulgaria has been growing rapidly in recent years, with many new players entering the market. This has led to increased competition and innovation, with many platforms offering new services such as same-day delivery and subscription services. The market has also seen a rise in the use of technology, with many platforms using artificial intelligence and machine learning to improve their operations.

Local special circumstances: Bulgaria's small population and relatively low GDP per capita have made it an attractive market for Quick Commerce platforms looking to expand into new regions. The country's strategic location between Europe and Asia has also made it an important hub for logistics and transportation, which has helped to support the growth of the Quick Commerce market.

Underlying macroeconomic factors: Bulgaria's economy has been growing steadily in recent years, with a focus on developing the country's infrastructure and improving its business environment. This has helped to attract foreign investment and support the growth of the Quick Commerce market. Additionally, the country's relatively low labor costs and favorable tax environment have made it an attractive location for businesses looking to expand their operations.

Methodology

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.