Online Grocery Market 2019
Online grocery refers to the purchase of fresh and packaged food through online portals. Ways of buying groceries have evolved over a period of time, owing to easy availability of products through stores and online platforms.
Scope of the Report: Walmart, Amazon, Kroger, FreshDirect and Target are Top 5 Online Grocery service providers in Global market. The global Online Grocery market is highly competitive and fragmented due to the presence of numerous small vendors in the market. Other prominent players in the market include Tesco, Alibaba, Carrefour, ALDI, Coles Online, BigBasket, Longo, Schwan Food, Honestbee, etc. Based on end uses, the market is segmented into Personal Shoppers and Business Customers. In 2018, Personal Shoppers occupied the largest market share, 70.05%, which is also expected to grow at a higher rate as compared to the Business Customers segment during the forecast period.
The global Online Grocery market is valued at 28300 million USD in 2018 and is expected to reach 82020 million USD by the end of 2024, growing at a CAGR of 23.7% between 2019 and 2024.
This report studies the Online Grocery market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Online Grocery market by product type and applications/end industries.
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Market Segment by Companies, this report covers Carrefour Kroger Tesco Walmart Amazon Target ALDI Coles Online BigBasket Longo Schwan Food FreshDirect Honestbee Alibaba
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, Colombia) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Packaged Foods Fresh Foods
Market Segment by Applications, can be divided into Personal Shoppers Business Customers
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Consumer goods industry has witnessed several changes in the recent years. Advancement of technology coupled with rise in e-commerce has stirred up high competition amid growing and established businesses. Currently, this industry is the most favored child of each nation's economy. No matter be it their ease of use, packaging, flavor or taste, price or quality, there is truly something about a favorite brand which makes people love it, at times beyond reason.
Consumer goods includes not only household cleaning products, cosmetics, toiletries, and food and beverages, but also electronic goods and home appliances. Moving to its classification, it is of two types- non-durable and durable goods. Durable goods last, buyers can use it for a long period. On the other hand, non-durable goods are consumed within a shorter period. The non-durable type is also known as consumer-packaged goods (CPGs) or fast-moving consumer goods (FMCGs).
Consumer goods companies are at the forefront owing to the current increase in digital innovation in some commercial areas, especially sales and marketing. The overall goal is to shift towards personalizing the whole customer journey right from homepage up to checkout. Artificial intelligence is used to offer services such as the digital shopper in simplifying the shopping process as well as offering personalized experiences which increase customer retention and loyalty. Companies are reaping the benefits by attaining higher sales, augmenting the retail brand, and reducing manufacturing costs.
The key objective to incorporate artificial intelligence with consumer goods is to allow more direct and simpler shopping both for the consumer and the producer alike. It is helping consumers in spending higher time finding and doing what they really desire. Companies are leveraging such innovations to contend with increasingly tech-savvy and value-conscious consumers. With growing number of consumers depending on mobile and digital devices to shop, a good number of consumer goods companies these days are investing in emerging and existing technologies to better engage, connect with, and understand their consumers.
Personalization is another trend that is gaining prominence in the consumer goods industry. Customizing goods in a manner which tailors to the unique requests of the customers is pocket-friendly using the direct-to-consumer channel. Consumer packaged goods are joining hands with e-commerce giants, having them suggest extra products which the consumer may desire to add to the shopping cart. Such practices are altering the relationship between consumers and CPGs to personal from practical.
Consumer goods companies are keeping an eye for prospects to acquire or join hands with companies for leveraging market solutions, accessing sources of various raw materials, and enabling better access to customers. Most companies have also begun exploring novel approaches in order to create a footprint across geographies. This is likely to benefit them by leaps and founds and also make them successful.
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