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Online Grocery Store – A Market With Great Potential

Technology is increasingly playing a role in the world around us, and this change is largely driven by technology. You can now buy online grocery you don’t need to go by yourself to markets or marts now.

Even for our most basic day-to-day activities, we would not have imagined relying on technology to this extent a few decades ago. We can’t imagine our lives without it. It’s become an essential part of who we are. Historically, technology has been used to help humans by improving the quality of their lives by making their lives simpler and easier.

As a result of digitalization, convenience has increased. In the future, purchasing items with just a click or tap and having them delivered to the home would be a better option than having them picked up in stores. Online retail is becoming increasingly popular among consumers as a result.

According to Consumer Reports, consumer expenditures on online businesses so far in 2020-21 are around $100 billion, up from $65 billion in 2019-20. Globally, RedSeer estimates that this trend will hit $250 billion by 2024-2025, encompassing grocery online, food, education, and healthcare.

Despite this, COVID-19 affects consumer behavior profoundly. In addition to socializing, hobbies, working, and doing leisure activities, the internet changed the way we live. During the FY20–FY25 period, the consumer internet sector is now expected to grow four times as a result of this pandemic.

Overview

As a result, consumers’ priorities for shopping and food have also changed. Consumers have tended to steer away from traditional stores due to concerns about their safety. In order to satisfy their needs for perishable items, consumers adopted more modern methods. Prior to the pandemic, convenience meant saving time and effort, but now stress-free availability is more important than saving time.

It was already recognized that e-commerce had great economic potential. In 2019, Red Seer Consulting reported that online retailers generated nearly $4 billion during the holiday season. Which accounted for 14 percent of annual cyber sales and groceries only 3 percent.

A pandemic, however, increased the demand for grocery shopping online. By 2020, the Indian online grocery market alone is expected to be worth more than $2.9 billion. In this market, consumers have developed multiple trends and opportunities, making online grocery one of the largest and most lucrative opportunities.

During the pandemic, a majority of Indians surveyed by Rakuten Insight in May 2020 said they purchased dry food items online. Food and groceries, personal hygiene products, and household cleaning products were the most commonly purchased items.

As a result of the following consumer trends and advantages, online marketplaces are predicted to grow in popularity:

Consumers’ Behavior

In the e-commerce landscape, consumer buying habits have been the main determinant of the growth of online groceries. With the ability to receive purchases delivered to their homes. Consumers are more likely to shop online from the comfort of their homes. Moreover, the pandemic’s anxiety and fear increased consumers’ concern about the safety of the food they ate as well as the hygiene of the food they consumed. Their trustworthy brands responded with options such as contactless delivery, sealed food, safe handling, and packaging in order to provide safer delivery methods through sanitary methods.

Convenience

With hectic schedules and exhausting lives, we need more convenient ways to communicate. Online shopping makes this possible, allowing hassle-free purchases at any time from anywhere. A consumer’s experience can be enhanced with home delivery. If necessary items of daily use are not readily available in their immediate vicinity. This enables the consumer to confirm their availability at the delivery time, thus enhancing their experience. During the pandemic, people also adopted online grocery shopping because of its convenience.

Also Read: Top 10 Best Money-Saving Tips When Shopping Online

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