<cite id="zp1zn"><delect id="zp1zn"></delect></cite>

    <font id="zp1zn"></font>

          SME Times is powered by   
          Search News
          Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
          Last updated: 27 Mar, 2023  

          Retail.9.Thmb.jpg Indian e-grocery market to witness growth in tier 2, beyond in 2023

             Top Stories
          » 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
          » 'India ranks 3rd in global startup ecosystem & number of unicorns'
          » Tripura exported over 9K tonnes of pineapples in 2 years
          » CPI inflation eases to 6.71% in July, IIP falls to 12.3%
          » Rupee depreciates 12 paise to close at 79.64 against US dollar
          IANS | 27 Mar, 2023
          The Indian e -grocery market, primarily dominated by slotted delivery, is set to witness growth in tier 2 and beyond regions, with horizontal players leading the way while the adoption of quick commerce is expected to remain steady, a report has shown.

          The significant growth in the Indian e-grocery market between 2019 and 2022 can be attributed to the adoption of quick commerce in cities.

          "The expansion of eGrocery is expected to continue in tier 2+ markets, driven by dominant players," according to RedSeer Strategy Consultants.

          e-grocery, which remained a minuscule fraction of the total grocery sales across regions until 2019, experienced a surge in demand due to the pandemic lockdowns.

          As a result, while the online penetration in e-grocery was steadily increasing in the Indian market, Indonesia and MENA witnessed skyrocketing trends in adoption.

          "Fast forward two years and the trends remained upward, with MENA and Indonesian regions experiencing over 100 per cent CAGR from 2019 to 2022, while India witnessed a 66 per cent CAGR," the findings showed.

          Consumer preferences driven by multiple factors such as convenience and habit leave much room for unlocking value in the e-grocery space, according to the report.

          "Players in the eGrocery space need to work on key principles to unlock values, such as a creative last-mile model, optimised warehousing and supply chain, targeted range construction and merchandising, optimised price positioning, and test and learn approach," it elaborated.

          As quick grocery delivery under the 10-15 minutes time period becomes the new growth arena globally, India's quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion.

          The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households, according to Bengaluru-based market research firm.
          Print the Page
          Add to Favorite
          Share this on :

          Please comment on this story:
          Subject :
          (Maximum 1500 characters)  Characters left 1500
          Your name:

            Customs Exchange Rates
          Currency Import Export
          US Dollar
          UK Pound
          Japanese Yen 58.85 56.85
          As on 13 Aug, 2022
            Daily Poll
          COVID-19 has directly affected your business
           Can't say
            Commented Stories
          » GIC Re's revenue from obligatory cession threatened(1)
          About Us  |   Advertise with Us  
            Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
          Follow Us : Facebook Twitter