As the world continues to embrace the convenience of online shopping, the demand for grocery delivery services has surged in Singapore as well. With the rise of e-commerce and the growing need for contactless delivery options, the grocery delivery market in Singapore has witnessed significant growth in recent years.
Customer preferences: Customers in Singapore are increasingly turning to online grocery shopping to save time and avoid the hassle of physical shopping. With busy work schedules and the convenience of doorstep delivery, more and more customers are opting for grocery delivery services. Additionally, the COVID-19 pandemic has accelerated the demand for online grocery shopping as customers seek to minimize their exposure to crowded public places.
Trends in the market: One trend that has emerged in the grocery delivery market in Singapore is the growing popularity of subscription-based services. Customers are increasingly signing up for monthly or weekly subscription plans that offer discounts and other benefits. Another trend is the emergence of specialized grocery delivery services that cater to specific dietary needs, such as organic or vegetarian products.
Local special circumstances: One unique aspect of the grocery delivery market in Singapore is the high population density and limited living space. With many residents living in small apartments, the need for convenient and efficient grocery delivery services is especially high. Additionally, the government has implemented various initiatives to promote e-commerce and digitalization, which has further boosted the growth of the grocery delivery market.
Underlying macroeconomic factors: The strong and stable economy of Singapore has played a significant role in the growth of the grocery delivery market. With a high standard of living and a tech-savvy population, Singapore is well-suited for the digitalization of the grocery industry. Additionally, the government's efforts to promote e-commerce and support small businesses have further encouraged the growth of the grocery delivery market in Singapore.
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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