Why Does Online Grocery Market Need to Grow in Worldwide in Your Near Future?Posted Jul 16, 2019
Online grocery refers to the purchase of fresh and packaged food through online portals. Ways of buying groceries have evolved over a period of time, owing to easy availability of products through stores and online platforms. The online grocery service is a niche market; however, it is anticipated to witness robust growth in the coming years. Nowadays, people opt for online grocery shopping as it is convenient and offers a wide variety of products, which can be delivered to the consumers doorstep within a stipulated time. In addition, customers are able to keep a track of their spending as well. Online grocery covers a wide spectrum of products such as bakery & dairy products, cereals, vegetables, and fruits. Retailers in this market offer services such as click & collect option and subscription option to ease the consumers online grocery shopping experience.
Hectic schedules, increasing working population, and tedious commuting provide opportunities to businesses and entrepreneurs to set up online grocery stores. With the evolving technology and increasing penetration of internet services, there is rising awareness among consumers about the different shopping trends prevailing in the society. Millennials and Generation Z are the most attractive consumer segments in the market. These are the most tech savvy users, and are ready to pay premium to avail same-day delivery of products. However, concerns regarding the freshness of fruits and vegetables, and high delivery charges act as threats for market growth.
The world online grocery market is segmented on the basis of category, type of shopper, and geography. In accordance to the category, it comprises meat & poultry products, fresh produce, beverages & dairy products and bakery, and breakfast & cereal. Based on the type of shopper, it is divided into Generation Z, Millenials, Generation X, Baby Boomers, and Silent Generation. Geographically, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Key players operating in this market are AmazonFresh, LLC, Koninklijke Ahold Delhaize N.V., Fresh Direct, LLC, mySupermarket Limited, NetGrocer.com, Inc., Walmart Stores, Inc., Safeway, Inc., ShopFoodEx, Schwan Food Company, and My Brands Inc.
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The study provides an in-depth analysis of the online grocery market to elucidate the imminent investment pockets. Current trends and future estimations are outlined to determine the overall market potential and to single out profitable trends to gain a stronger market foothold.
The report provides information about key drivers, restraints, and opportunities with a detailed impact analysis. Quantitative analysis of the market to 2022 is provided to showcase the financial competency.
Porters Five Forces model illustrate the potency of the buyers and suppliers. Value chain analysis provides a clear understanding of the roles of stakeholders involved.