No unwanted luxury purchases, front door delivery facility, shopping online saves all the hassle of navigating a busy supermarket, 24/7 delivery, high percentage of digital consumers and high government commitment to build and develop essential infrastructure are the drivers of online grocery market.
In 2016, eCommerce retail sales account for 15% of all retails sales globally. This accumulates to a total of USD 2.24 trillion of revenue in 2016, up from USD 1.99 trillion in 2015. It is predicted that this growth will continue to increase with an estimated revenue value of USD 5 trillion by 2024 in global retail eCommerce market. Global online grocery market is expected to grow at the considerable CAGR of 19.5% over the forecast period.
Country wise, South Korea online grocery market outpaces every other major developed country, followed by Japan, UK, France and Taiwan owing to growing number of single-person households.
Wal-Mart Testing ‘direct-to-fridge’ Delivery
The increasing adoption of smart appliances with smart home idea inspired the Wal-Mart stores to test novel online order fulfillment strategy by opting for unattended delivery of Walmart orders directly inside their homes and some that authorize the delivery driver to unload fresh groceries directory to their refrigerator. This will be provided by Deliv, which is also partnering for delivery for Walmart’s Sam’s Club stores in Miami.
“Global Online Grocery Market Outlook 2024” contains detailed overview of the global online grocery market in terms of market segmentation by company type, eCommerce option and by category.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global 0nline grocery market report also provides competitive outlook for some of the major players which includes profiling of companies such as Amazon, Carrefour, Kroger, Target, Tesco, Walmart, Costco Wholesale, EDEKA, METRO AG, Safeway, Schwarz, Tengelmann, Coles Supermarkets, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global online grocery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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