The
trend of online shopping is rising significantly as consumers are
becoming familiar with buying things online. Online grocery refers to
a grocery store that enables the businesses or individuals to
purchase grocery products online. Online grocery shopping enables
consumers to select the delivery timing as per their convenience.
This ensures the timely delivery of products as per the requirement
and availability of the consumers.
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Increase
in dependence of consumers on smart devices and digital media to get
thorough information about products before buying enables them to
have a laid-back decision-making process. Accordingly, the budding
rate of digital consumerism on grocery retail sales is estimated to
positively influence the global online grocery market in the next few
years. Key factors driving the growth of the online grocery market
include high adoption rate of smart devices, increase in number of
social media users, and rise in penetration of wireless broadband
Internet that enables consumers to access information about grocery
shopping and interact with a brand or business online. Furthermore,
rise in awareness about the attractive discounts offered on grocery
items propels the rate of revenue generation of the enterprises in
the online grocery market due to increased sales volume. Moreover,
increase in demand for functional food and beverages is predicted to
drive the growth prospects of the global online grocery market in the
next few years.
The
online grocery market can be segmented based on order type, product
type, end-user and region. Based on order type, the online grocery
market can be divided into desktop-based and app-based orders. The
app-based online model segment is estimated to account for the
dominant share of the global online grocery market owing to the
rising usage of smartphones. Segmentation, on the basis of product
type, includes food products and non-food products. The online
grocery non-food products segment accounted for the leading online
grocery market share in 2016 and is anticipated to continue with its
dominance in the online grocery market during the next four years. On
the basis of end-user, the online grocery market can be classified
into large enterprises and small & medium sized enterprises
(SMEs).
Based
on region, the global
online grocery market can be bifurcated into North America,
Europe, Asia Pacific, Middle East & Africa, and South America.
The online grocery market in North America is expected to expand at a
significant growth rate and constitute a prominent share of the
market during the forecast period as compared to the market in the
other regions. The U.S. and Canada are projected to drive the online
grocery market in North America. A key factor responsible for the
flourishing online grocery market in the region is the rise in the
leading Consumer Packaged Goods (CPG) manufacturers through online
distribution. The online grocery market in Asia Pacific is also
expected to expand significantly owing to the increasing adoption of
online shopping for baby products, personal care, and household
supplies in the developing markets such as China, India, Japan, and
Malaysia. Moreover, online grocery enterprises are focusing on
emerging economies such as Bangladesh, India, China, Thailand, and
Malaysia as these countries present significant opportunities due to
rise in the standard of living.
Key
players in the global online grocery market focus on introduction of
advanced solutions and services in order to improve their offerings.
Major players in the online grocery market include Alibaba Group,
Aldi, Amazon.com, BigBazaar, Big Basket, METRO AG, Coles
Supermarkets, EDEKA, AEON, Costco Wholesale, More, REWE, Schwarz,
Safeway, Inc., and Tengelmann Group. Vendors are also focused on
enhancing their distribution network in order to strengthen their
position in the global online grocery market.
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