Description
As per wise guy report, online grocery refers to the purchase through online portals of fresh and packaged food. Due to the easy availability of products through stores and online platforms, ways of buying groceries have evolved over a period of time. The online grocery service is a niche market, but in the coming years it is expected to see robust growth. People now choose online grocery shopping as it is convenient and offer a wide variety of products that can be delivered within a specified time to consumers. Furthermore, customers can also keep track of their expenditure. Chaotic calendars, hectic schedules, growing workforce and tedious commuting offer companies and entrepreneurs the opportunity to set up online grocery stores.
According to the report, with the changing technology and growing internet service penetration, consumer knowledge of the various shopping patterns prevalent in society is growing. The most appealing consumer sections on the market are Millennials and Generation Z. These are the most tech-savvy users and are willing to pay premium to deliver products on the same day. Concerns about fruit and vegetable freshness, however, and elevated shipping fees are a threat to market growth.
The major players profiled in this report include: JD, Kirana Now, Amazon, Wal-Mart Stores Inc, Ocado Group PLC, J Sainsbury PLC
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Together with the fast enhancement in velocity and accessibility of the same day delivery, the mobile app service supplied by online grocery businesses has produced customer experience better than ever. From its tiny base, online grocery grows quickly. From 2016 to 2018, its market value increased, indicating customers are beginning to become more comfortable with essential orders and certain foods online — a significant obstacle to acceptance. Meanwhile, one sort of item that is common in internet supermarket that is consumer packaged products (CPGs), has seen most of its internet development. While customers may not yet be completely comfortable purchasing products such as online produce, this is probable to happen as their familiarity and confidence in online grocery expands.
As per the report, Global Grocery online market is segmented by shopper type, category and geography. It includes meat & poultry goods, fresh produce, drinks & milk products and bakery goods, and breakfast & cereal in compliance with the category. Based on the shopper type it is further divided into Silent generation, Generation X, Generation Z, Millennial and Baby Boomers. Current trends and future estimates are described to identify the general market potential and identify lucrative trends to obtain a greater foothold in the market. To elucidate the imminent investment pockets, the report offers an in-depth assessment of the Global Online grocery market size and trends.
In the report, this market research study segments the end-user (people and others) and geographic areas (APAC, EMEA, and the Americas) worldwide market for internet grocery services. In 2017, the APAC region resulted the market with a market share of close to 59 percent, followed respectively by EMEA and Americas. The Americas is anticipated to record the greatest incremental development of nearly 1% over the forecast era. Mobile grocery applications have led to general grocery shop revenues and U.S. clients are anticipated to use such applications from 18 million in 2018 to 30.4 million in 2022. The report carries out regional analysis of Global Online Grocery Market across regions of North America (Canada, Mexico, and U.S), Europe (Germany, France, UK) and the rest of Europe region, Asia-Pacific (China, India, Japan, and remaining of Asia-Pacific region) and LAMEA includes Africa, Latin America, and Middle East.
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The report suggests that Grocers are rushing to exploit this potential, leading to an extremely competitive market. In an effort to capture market share, both founded grocery players and newcomers to the room are increasing their curbside pick-up and delivery offers — the two core elements of internet grocery. Online grocers and grocery service suppliers are showcasing and providing these products to expand their product portfolio in order to capture more share in the worldwide market for online grocery services.
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