Quick Commerce, also known as Q-Commerce, is a rapidly growing market in Estonia, with an increasing number of consumers turning to online platforms to purchase goods and services. This trend can be attributed to several factors, including changing customer preferences and local special circumstances.
Customer preferences: Estonian consumers are increasingly turning to online shopping due to its convenience and accessibility. This trend is particularly evident among younger generations, who are more likely to use mobile devices to make purchases. Additionally, consumers are becoming more environmentally conscious, which is driving demand for sustainable and eco-friendly products.
Trends in the market: The Q-Commerce market in Estonia is characterized by intense competition among established players and new entrants. This has led to a proliferation of delivery options, including same-day and on-demand delivery, as well as the use of drones and other innovative technologies. Furthermore, there is a growing trend towards hyper-localization, with companies focusing on delivering products to specific neighborhoods or even individual households.
Local special circumstances: Estonia's small size and population density make it an ideal market for Q-Commerce. The country's well-developed digital infrastructure and high levels of internet penetration also make it an attractive destination for online retailers. Additionally, Estonia's relatively high standard of living and disposable income levels mean that consumers are willing to pay a premium for fast and convenient delivery.
Underlying macroeconomic factors: The growth of Q-Commerce in Estonia can be attributed to several underlying macroeconomic factors, including the country's strong economic growth, low unemployment rate, and high levels of consumer confidence. Furthermore, Estonia's status as a member of the European Union means that it benefits from a stable regulatory environment and access to a large market of consumers. Finally, Estonia's reputation as a hub for innovation and technology is attracting investment from both domestic and international players, further fueling the growth of the Q-Commerce market.
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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