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.
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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