Increasing Penetration Of Internet Service To Boost Online Grocery Market

The online grocery market is anticipated to witness the rapid growth during the forecast period. The pattern for grocery shopping is shifting from traditional to online shopping with the advent of E-commerce and Internet resulting in growing emphasis for online grocery shopping. E-grocery is the process of ordering grocery products from home through online medium, with services such as door-step delivery or through a pickup point. The internet therefore plays an important part to connect people and information.

The trend of the trading store is shifting as several merchants are changing their focus from common brick and mortar retailing to brand-new layouts including e-tailing or electronic retailing. AtMyDoorSteps.com, AaramShop.com, ZopNow.com, LocalBanya.com, MyGrahak.com, and RationHut.com are the major online stores retailing groceries in India. Most of the retailers offer their service across primary metropolitan cities. For instance, China is expected to witness a rapid growth in the grocery marketspace.

Rising adoption of rapid subscription plan and accessibility to several benefits including price savings via price discounts and cashback along with priority/free delivery will show a positive impact on a overall business outlook in the forecast period. 

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Factors such as lack of knowledge regarding the purchase of a product online and lack of trust regarding product quality may affect overall industry growth. Use of technologies such as artificial intelligence (AI) and warehouse automation for expansion of the e-grocery industry will create novel opportunities in the forecast period. Thus, technological innovations are anticipated to alter grocery retailing and will modify the future of food sector.

Powerful trends such as evolving customer behavior and attitudes, new competition, and technological advances will disrupt the grocery business from coast to coast in the next few years. For instance, rising use of wireless broadband internet and social media users across the globe enables the users to access information regarding grocery products and online shopping to interact with business or online brands. This, in turn, will propel industry growth in the forecast period.

The online grocery industry is categorized based on product type, applications, and region. Based on geography, Asia Pacific is anticipated to witness the fastest growth rate over the forecast period owing to the presence of key consumers like India. Shopping for grocery products has witnessed a revolution in the Indian retail industry with the conspicuous changes in consumer buying behavior driven by cost-effective mobile and online technologies, rising spending power of consumers, and changing lifestyle. Grofers and Bigbasket are the major players in the Indian industry.

Prominent players of the online grocery market include Sainsbury PLC, JD, Ocado Group PLC, Kirana Now, Walmart Stores Inc., and Amazon. These players are continuously focusing on R&D activities to enhance e-grocery service for consumers.