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Where Is The Online Grocery Market In India Headed?
An article published by the Wharton University of Pennsylvania* described a $300 million funding from Alibaba to BigBasket, the largest e-grocer brand here in India. Its co-founder said that this is the biggest investment the company has received since its launch in 2011 and will be used to boost growth.
Its news like this that shows just how far this Online Grocery Market In India has come and they have the consumers to thank for that. Initially, entrepreneurs thought that the whole concept of online groceries wouldn’t take up in an otherwise traditional environment, where buyers would prefer buying produce locally.
Selling groceries online has become easier and more accessible to those same consumers. One reason for that is that we now have a much better system of online payments.
The other promising factor is the number of online grocery apps in this growing domain of e-retail. And, if these conditions are still there next year, new entrants in this industry have the scope to succeed. Well, maybe not like BigBasket, but still.
Most of them are however trying to replicate what BigBasket does; to develop an app, fill their online store with offers, schemes, and prices that potential users will be attracted to.
It appears to be working for them too and as a result, consumers are reaping the benefits from the number of apps available online. Grofers, Spencer’s, Amazon Pantry and Natures Basket are some of the other big competitors. The only differentiation between them lies in how they work and what they offer. That is, they each have something that their specific buyers are looking for. Let’s elaborate.
For example, fresh meat, produce and a host of other perishable items can be purchased online via Grofers, BigBasket, Spencer’s and Natures Basket. This the key USP of these particular online grocers and users that need to have these items delivered can use their services.
Amazon might have the best global logistics network there is, but its online grocery app platform doesn’t include perishable goods. Sure, you can goods for your kitchen and for making meals, but all of them are of the dried, packaged form or cooking intermediaries and not actual foods. Unlike BigBasket, Spencer’s, they can deliver these non-perishable items worldwide.
Another interesting thing to note is the entry of e-commerce and mobile wallet mega- brands into this field. One example is Flipkart – who, just like Amazon, have the advantage of global deliveries courtesy of their Walmart ownership. Then you have PayTM Mall that has grocery options with offered pricing and their special offers exclusively for their e-wallet users.
We saw this before when the whole online shopping trend created e-commerce sites and industry as we know it today. It started out as a fad, but eventually became mainstream and is now the preferred way to buy a number of products and services. It had even uprooted many big businesses, brands and brick-and-mortar stores along the way too. The real question we should be asking – ‘is the online groceries trend headed the same way?’ We sure hope so.
Browse full table of contents and data tables at @ https://www.researchonglobalmarkets.com/pressrelease/post/online-grocery-market-in-india-is-expected-to-expand.html
Written by a content marketer who keeps updated on industries for market research purposes and studying them.
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