Online Grocery Market in India to Grow at 55% through 2021
Growing e-commerce industry and increasing internet penetration coupled
with rising digital awareness to increase online grocery sales in India through
2021
According to a recently released
TechSci Research report, "Online Grocery Market in India "By Product Type, Consumer Behaviour, Competition Forecast and Opportunities, 2011 – 2021”, the online grocery market in India is projected to grow
at a CAGR of 55% during 2016 - 2021. Easy availability
of a wide product range at one place and improving logistic services offered by
companies are anticipated to fuel the country’s online grocery market over the
next five years. With
growing e-commerce market, increasing consumer awareness, rising disposable
income and advent of various technological advancements over the last few years.
Over the last couple of years, online
grocery companies operating in India have been spending heavily on digital
marketing to increase their visibility and consumer awareness.
India has a large
base of young consumers who form majority of the workforce and due to time
constraints barely get time for grocery shopping which is increasing adoption
of online grocery stores especially in metro cities. Consumers in urban centers
like Delhi, Mumbai & Bangalore are driving substantial growth in India
online grocery market, a large chunk of Indian consumers, residing in tier II
and tier III cities, still remain untapped due to lack of confidence, low
awareness and price conscious behaviour. To remain competitive in the market,
an increasing number of e-grocers are strategically targeting these markets to
increase their footprints in the country.
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“BigBasket, Grofers, and PaperTap are the
leading players in India online grocery market. These players are anticipated
to maintain their dominance in the market through 2021. Few companies are
expanding their operations by partnering with local retailers in numerous
Indian cities, while others are adopting inventory business model to address the
growing demand for everyday consumer products across India.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Online Grocery Market By Product Type, Consumer Behaviour, Competition
Forecast and Opportunities, 2011 – 2021”, has
analyzed the potential of India online grocery market and provides statistics
and information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers and key
challenges faced by the industry.
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