Market Insights eCommerce Online Food Delivery

Grocery Delivery - Colombia

Colombia

Colombia's Grocery Delivery market is anticipated to reach a revenue of €512.50m in 2024.
This market is projected to exhibit a compounded annual growth rate (CAGR 2024-2029) of 9.56%, resulting in a forecasted market volume of €808.90m by 2029.
Meanwhile, the Quick Commerce market is expected to have a market volume of €277.70m in 2024.
When compared globally, China is projected to generate the highest revenue, amounting to €244,100.00m in 2024.
The average revenue per user (ARPU) in Colombia's Grocery Delivery market is projected to be €54.11 in 2024.
Furthermore, the number of users in this market is expected to reach 12.3m users by 2029.
Lastly, the user penetration rate in Colombia's Grocery Delivery market is estimated to be at 18.1% in 2024.
Colombia's grocery delivery market is experiencing a surge in demand due to the convenience and safety it offers amidst the COVID-19 pandemic.

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Moneda

Analyst Opinion

Despite the challenges posed by the pandemic, the grocery delivery market in Colombia has seen significant growth in recent years.

Customer preferences: Colombian consumers have increasingly turned to online grocery shopping due to the convenience it offers. With busy schedules and traffic congestion in major cities, online grocery shopping allows customers to save time and avoid the hassle of navigating crowded stores. Additionally, the pandemic has accelerated the adoption of online grocery shopping as consumers seek to minimize their exposure to crowded public spaces.

Trends in the market: One trend in the Colombian grocery delivery market is the rise of on-demand delivery services. Companies are now offering faster delivery times, with some promising delivery within just a few hours of placing an order. This trend has been driven by the growing demand for convenience and the desire for immediate gratification among consumers.Another trend is the expansion of product offerings beyond just groceries. Many companies have begun offering a wider range of products, including household items, personal care products, and even electronics. This trend has been driven by the desire to capture a larger share of the e-commerce market and provide a one-stop-shop for customers.

Local special circumstances: Colombia's geography presents unique challenges for the grocery delivery market. The country's rugged terrain and lack of infrastructure in some areas can make it difficult to deliver goods in a timely and cost-effective manner. This has led some companies to focus on urban areas where delivery is easier and more profitable.

Underlying macroeconomic factors: Colombia's growing middle class and increasing internet penetration have played a significant role in the growth of the grocery delivery market. As more Colombians gain access to the internet and smartphones, the potential customer base for online grocery shopping continues to expand. Additionally, the country's relatively stable economy and low inflation rate have provided a favorable environment for investment in the e-commerce sector.

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.