According to the latest report by IMARC Group, titled “Indian online Grocery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the online market reached a value of US$ 3.02 Billion in 2020. Online grocery stores refer to e-commerce websites and mobile applications that aid individuals in ordering packaged food products, fresh produce and necessary household items. These online portals connect various brick-and-mortar local stores, supermarkets and third-party e-retailing organizations to assist in delivering the online order to the user in an efficient manner. These stores offer several benefits as they provide enhanced convenience and a vast array of options. They also offer flexibility of payment modes and scheduled delivery slots to the consumers. Additionally, users can opt for easy return, refund and exchange of items as per their requirements. Due to these associated advantages and benefits, online grocery services in India are gaining widespread prominence. Some of the most common items purchased through online grocery stores include fruits, vegetables, cereals, meat, dairy and bakery products.
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Indian Online Grocery Market Trends:
The market has been driven by the increasing penetration of high-speed internet connectivity and the escalating uptake of smartphones across India. This, along with rapid urbanization and growing digital literacy among the large customer base, has contributed to the rising consumer awareness regarding the benefits offered by these stores, which, in turn, is resulting in an increased acceptance for online grocery portals in the country. Improvements in cold chain facilities and the rapid expansion of the e-commerce sector are acting as other major growth-inducing factors. The market is further driven by the ever-evolving business models adopted by numerous vendors to streamline their functions while providing the consumers with service flexibility and hassle-free experience. Multiple companies have introduced the option of slotted and express deliveries on their portals, which is providing enhanced convenience to users, especially the rapidly increasing working professionals of the country. They are also providing the users with subscription-based or on-demand delivery models, which is expected to provide a positive outlook for the market. Furthermore, in the wake of the coronavirus disease (COVID-19) pandemic, the purchasing patterns of the masses have changed drastically. They are now preferring to shop groceries and essential household items online with contactless deliveries and digital payment methods in an effort to minimize social contact and contain the spread of the virus. Consequently, the rapid upsurge of COVID-19 cases has significantly bolstered the demand for online grocery delivery services. In addition to this, numerous food delivery platforms, such as Swiggy and Zomato, are now venturing into the market. On account of the aforementioned factors, the market to exhibit strong growth during the next five years.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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