According to the World Bank, approximately 80% people in developed countries and nearly 35% in emerging economies have access to the internet. The surging internet penetration will, therefore, steer the online grocery market growth in the forthcoming years. Additionally, the rising preference for e-payment services will also encourage customers to purchase their groceries from online platforms. Moreover, the increasing security of e-payment solutions, owing to the development of encrypted platforms, will also promote the practice of online grocery shopping.
Besides, the soaring number of smartphone users and mounting population of tech-savvy consumers will also popularize the usage of e-commerce platforms for grocery shopping. Smartphone users are using their devices to opt for home delivery or click-and-collect options of procuring groceries from online platforms. In recent years, customers have been preferring the home delivery option over the click-and-collect service, due to the higher convenience offered by the former. Apart from smartphones, tech-savvy customers are also placing their orders from other smart devices such as smart TVs, tablets, and laptops.
According to P&S Intelligence, Europe dominated the online grocery market in the preceding years, due to the booming population of baby boomers and rising internet penetration in the region. Whereas, the Asia-Pacific (APAC) market is projected to progress at the highest rate in the foreseeable future. This can be ascribed to the fact that the online grocery shopping is the most favored option in China. Among APAC nations, India will shift toward online grocery shops at the fastest pace, due to the rising internet penetration and increasing work pressure on people.
Therefore, the rising internet and smartphone penetration, booming tech-savvy population, and increasing use of e-payment systems will encourage more people to shop grocery online, across the world.