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Online Grocery Market is Thriving in India | Paytm E-Commerce, Reliance Retail, Amazon
Online Grocery Market
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The online grocery market in India, which is a segment of the e-services industry, operates with the help of grocers either in the form of a supermarket, e-commerce platform, or a brick-and-mortar grocery store that provides its customers with the facility of ordering grocery online. The service providers operate in any of the following four models: home delivery, click and collect, third party or personal shopping, and direct to consumer.
Market insights:
In India, the online grocery market is at a nascent stage. Currently, only ~0.15% (~ 2 Mn out of ~1.35 Bn) Indians make purchases through online channels, mainly due to abundant presence of physical grocery stores across the country. However, the market is anticipated to expand at a high compound annual growth rate (CAGR) of ~68.66% during the 2018-2023 period, to reach a value of INR 1,034.13 Bn by 2023, from its 2018 value of INR 62.01 Bn. Such remarkable growth of the Indian online grocery market is accounted to growing customer acceptance, increasing internet and smartphone penetration, new market entries, and increasing focus of online marketplaces like Amazon and Flipkart in the grocery segment.
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Key growth drivers of the market:
o Acceptance of online grocery platforms in India has increased in recent years, owing to the rising awareness about the convenience of the process, digital literacy, and internet penetration across the country. Also, investors have shown the tendency to spend large amounts on customer retention, because grocery is an essential commodity for households. Therefore, customer acceptance, and high investment on customer retention is expected to lead to further growth of the online grocery market in India.
o The central government of India has designed and developed smart cities with a state-of-the-art infrastructure for setting up different models of e-commerce and online transactions. Owing to these reasons, the online grocery retail market is witnessing a growth rate of ~25-30% in the Indian metropolitans, and other emerging smart cities.
Key deterrents to the growth of the market:
o Most of the customers in India often show a tendency of switching between different online grocers, with special inclination towards those who provide more discounts, charge less for delivery, and generate a higher value of coupon offers. As a result, the online grocery market players face difficulty in developing a loyal customer base in India, which in turn hampers their business.
o The Indian grocery market is dominated by ~12 Mn local physical grocery stores. Most of the Indian families still prefer purchasing grocery from the ‘kirana’ stores, because of lack of trust, thus hindering generation of revenue for online grocers.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Online Grocery market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Online Grocery near future?
What is the impact analysis of various factors in the Online Grocery market growth?
What are the recent trends in the regional market and how successful they are?
Read Detailed Index of full Research Study at @ https://www.htfmarketreport.com/reports/1812351-online-grocery-market-in-india
Some extract from Table of Contents
• Overview of Online Grocery Market
• Online Grocery Size (Sales Volume) Comparison by Type (2019-2025)
• Online Grocery Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Online Grocery Size (Value) Comparison by Region (2019-2025)
• Online Grocery Sales, Revenue and Growth Rate (2019-2025)
• Online Grocery Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Online Grocery
• Online Grocery Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.
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