The demand for grocery delivery services in Serbia has been on the rise in recent years.
Customer preferences: Serbian customers have shown a growing preference for the convenience of online grocery shopping and home delivery. This trend has been driven by the increasing availability of internet access and the proliferation of smartphones. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping as customers seek to minimize their exposure to the virus.
Trends in the market: The grocery delivery market in Serbia is becoming increasingly competitive, with both local and international players entering the market. This has led to a wider range of products and services being offered to customers, including same-day delivery and a wider range of payment options. The market is also seeing the emergence of new business models, such as subscription-based services and partnerships with local retailers.
Local special circumstances: Serbia's retail market is dominated by small independent stores, which presents a challenge for grocery delivery services. These stores often lack the infrastructure and resources to offer online ordering and delivery, which limits the range of products that can be offered to customers. However, some grocery delivery services have found success by partnering with these local retailers to expand their product offerings and reach a wider customer base.
Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with rising levels of disposable income and a growing middle class. This has led to an increase in consumer spending and a greater demand for convenience and quality in the retail sector. Additionally, Serbia's geographic location and proximity to major European markets make it an attractive location for international retailers and logistics companies looking to expand their operations in the region.
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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