Online Grocery Shopping: Increasing demand in developing countries to boost the global market growth
Food is one of the most important basic need of a human being and as the civilisation was being advanced, more and more sophisticated techniques were being invented by our ancestors. Monthly grocery shopping is also one of them.
On the verge of ending of the 20th century, honest endeavours were made to make the grocery shopping completely digital. Due to the deep effect of Globalisation in 1991 across the globe, the failed attempts to launch online grocery shopping in late 90’s have indeed become a distant memory now. World grocery market is expanding like anything. Giants in this vertical have already captured Indian Market and spreading their wing with a pace.
As far as the case of U.S is concerned, online shopping there could grow five-fold over the next decade and American customers will spend more than 100 billion USD on the online grocery shopping by the end of 2025, said a recently released report. If we talk about India, then online grocery shopping in metro cities is growing at a rate of 25-30% per annum, which is a huge thing indeed. Let’s have a sneak peek on the key points in this matter.
• Online grocery shopping is a recent progressive advancement after the wave of globalisation across the globe. It is basically a result of fast-paced technological advancements currently happening in the world.
• India is a very potential customer for all the global giants in the vertical of online grocery selling. Government policies, Indian customer’s interest towards adopting this change, Stake holder’s interest to invest in the business is leading to the manifold increase in the customer count and rapid expansion of the business as well.
Now the important question that is naturally raised here is, will grocery industry will continue to be successful in India? Unlike U.S, our culture is a different and Indian customer is not used to the online purchase of anything. Companies such as Big Basket, Grofers, Zopnow are still facing problem in the inception of their business in the tier 2 cities of India. In many tier 2 cities, they had to shut their outlets off due to failure in achieving the target customer count in a specific period of time.
But things are also not that pessimistic. These major players have successfully examined the food culture of metro cities in India and received a manifold increase in the customer count there. Their technology-driven online grocery solutions have earned a greater share of online grocery shoppers in India and hence, it can be certainly said that online grocery shopping has got a bright future in the Indian market.
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