The Retail Delivery market in Ghana has seen significant growth over the past few years, with a number of factors contributing to this trend.
Customer preferences: Ghanaian consumers are increasingly looking for convenience and efficiency in their shopping experiences, which has led to a rise in demand for retail delivery services. With a growing middle class and increasing urbanization, more people are turning to online shopping and home delivery to save time and avoid the hassle of crowded stores and traffic.
Trends in the market: One of the key trends in the Retail Delivery market in Ghana is the emergence of new players offering innovative delivery solutions. These include companies that specialize in last-mile delivery, as well as those that offer same-day and express delivery services. There has also been a shift towards more eco-friendly delivery options, with some companies using bicycles and electric vehicles to reduce their carbon footprint.
Local special circumstances: One of the unique challenges facing the Retail Delivery market in Ghana is the country's poor road infrastructure. Many roads are in disrepair and there are frequent traffic jams, which can make it difficult for delivery drivers to get to their destinations on time. In addition, there is a lack of standardized addressing systems in many parts of the country, which can make it hard for delivery companies to locate customers.
Underlying macroeconomic factors: The growth of the Retail Delivery market in Ghana is being driven by a number of macroeconomic factors, including rising incomes, urbanization, and increased access to technology. Ghana's economy has been growing steadily in recent years, with a GDP growth rate of around 6% in 2019. This has led to an expansion of the middle class and increased consumer spending, which has in turn fueled demand for retail delivery services. Additionally, the country's urban population is expected to continue growing rapidly in the coming years, which will further boost demand for delivery services. Finally, the widespread adoption of mobile phones and internet access has made it easier for consumers to shop online and place delivery orders.
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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