-- India Online Grocery Market Report is a professional and in-depth study on the market overview, market dynamics, competitive analysis and leading players strategies.
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Companies covered:
- Amazon India Pvt. Ltd.
- Godrej Natures Basket Ltd.
- Grofers India Pvt. Ltd.
- Paytm E-Commerce Pvt. Ltd. (Paytm Mall)
- Reliance Retail Ltd. (RelianceSmart.in)
- Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)
- UrDoorstep eRetail Pvt. Ltd.
- ZN Retail Pvt. Ltd.
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 t- 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 t- abundant presence of physical grocery stores across the country. However, the market is anticipated t- expand at a high compound annual growth rate (CAGR) of ~68.66% during the 2018-2023 period, t- 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 t- 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:
- Acceptance of online grocery platforms in India has increased in recent years, owing t- the rising awareness about the convenience of the process, digital literacy, and internet penetration across the country. Also, investors have shown the tendency t- 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 t- lead t- further growth of the online grocery market in India.
- 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 t- 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 t- the growth of the market:
- Most of the customers in India often show a tendency of switching between different online grocers, with special inclination towards those wh- 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.
- 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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In the end, the India Online Grocery Market report’s conclusion part notes the estimation of the industry veterans.
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