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The Indian online grocery market was valued at US$ 9.0 Billion in 2023.
We expect the Indian online grocery market to exhibit a CAGR of 26.7% during 2024-2032.
The growing demand for online groceries over traditional shopping methods, as they offer various benefits, such as the availability of various payment options, fast delivery, and flexible return or exchange policies, is primarily driving the Indian online grocery market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing consumer inclination towards online grocery stores to combat the spread of the coronavirus infection upon human interaction through brick-and-mortar distribution channels across the nation.
Based on the product type, the Indian online grocery market can be categorized into food grains, bread, bakery and dairy products, fruits and vegetables, personal care, dry and baking products, household products, beverages, meat and meat products, and others. Among these, food grains account for the majority of the global market share.
Based on the payment method, the Indian online grocery market has been segregated into online and cash on delivery, where cash on delivery currently exhibits a clear dominance in the market.
Based on the platform, the Indian online grocery market can be bifurcated into app-based and web-based. Currently, app-based holds the largest market share.
On a regional level, the market has been classified into North India, East India, West India, and South India, where South India currently dominates the Indian online grocery market.
Some of the major players in the Indian online grocery market include Aaram Shop Private Limited, Amazon Retail India Pvt. Ltd, Godrej Nature's Basket, Blink Commerce Private Limited, Innovative Retail Concepts Pvt Ltd (Bigbasket), Paytm E-Commerce Pvt. Ltd., etc.
Statistics for the 2022 India Dairy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports.
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A business journal from the Wharton School of the University of Pennsylvania
May 7, 2015 • 12 min read.
The online grocery business in India is seeing high traction and is expected to grow to a multi-billion market. But the jury is still out on who will lead the pack.
U.K.-based Ocado, the world’s largest online grocery firm (or e-grocer), recently posted its first ever full-year profit. Ocado, which started operations in the year 2000, reported a pre-tax profit of £7.3 million ($11 million) on revenues of £948 million ($1.4 billion) for the 52 weeks ended November 30, 2014. In 2013, it reported a loss of £12.5 million. It has taken the company 15 years to deliver on its promise
In India, BigBasket, the country’s largest e-grocer which began operations in 2011, expects to break even in the next 36 months. It is already operationally profitable in its home market, Bangalore. “Labor and logistics costs are much cheaper in India than in western markets, so e-grocers here can make money faster,” says Hari Menon, BigBasket’s cofounder and CEO.
BigBasket currently has a kitty of over 10,000 products across 1,000 brands and over 450,000 active customers across five cities. It expects to close financial year 2014-2015 with revenues of around Rs. 250 crore (US$40 million). By December this year, the company plans to expand its presence to around five more cities. And over the next two years, it expects to grow to Rs. 1,800 crore (US$288 million).
India is the sixth largest grocery market in the world and one of the fastest growing markets for online groceries. According to industry estimates, of the $500 billion-plus retail market in the country, food and groceries account for the biggest chunk with around 70% market share. Of this, organized food and groceries is estimated to be around $12 billion and growing at a compound annual growth rate of around 30%. Research firm IGD predicts that by 2016, the Indian grocery market would have overtaken Japan to become the third largest. Meanwhile, India’s online grocery market, which is estimated to be less than $100 million at present, is expected to be worth billions in the coming years. “We anticipate it to cross $20 billion by 2020,” says Menon.
“Labor and logistics costs are much cheaper in India than in western markets, so e-grocers here can make money faster.” –Hari Menon
A 2014 U.S. Department of Agriculture (USDA) report notes that “the growth in India’s online retailing for food and groceries is a function of the rise in total Internet users from 120 million to 213 million in the past year as well as a fall in mobile handset prices and a rise in smartphone penetration.” Nitish Asthana, general manager at electronic payment firm First Data, adds that as consumers get more comfortable shopping online, they move to newer categories. “Consumers with busy lifestyles are opting for online grocers. We believe that the key point is the quality and range of products being offered at an attractive price and without the customer having to step out the door.”
Packed with Action
The potential is attracting a flurry of attention and action. Even as pure-play domestic e-grocers like BigBasket, ZopNow and LocalBanya are expanding their operations, horizontal e-tail biggies like Flipkart and Snapdeal have added gourmet and specialty food to their offering. Importantly, so has the global e-tail giant Amazon, which created waves last year when CEO Jeff Bezos announced a $2 billion investment for India.
“We launched the gourmet and specialty food store in October last year on Amazon.in. This is a reiteration of our commitment to relentlessly focus on building a place where customers can find, discover and buy virtually anything they want to buy online,” says Samir Kumar, director – category management at Amazon India. Pointing out that online grocery shopping in India is currently nascent, he adds: “We see potential in it, particularly for niche products like gourmet, organic food and specialty products which are not easily available. Customers should expect us to continue investing in expanding selection in this category.”
Amazon has been moving fast. In March this year, it launched Kirana Now , an express delivery platform in partnership with neighborhood stores. According to Amit Agarwal, vice president and country head of Amazon India, this is an “India specific innovation built particularly for the local market.” In a conversation with daily newspaper Times of India, Agarwal said: “These corner stores, which would be listed as sellers, will upload their catalogues online on our platform and we would help with the backend and technology.”
Amazon’s entry is expected to step-up action in the segment. “With Amazon’s deep pockets and experience with Amazon Fresh, it will [pose] a big challenge for BigBasket and other local firms,” says Kartik Hosanagar , an operations and information management professor at Wharton. Pragya Singh, associate vice president of retail at New Delhi-based research and consultancy firm Technopak Advisors, adds: “The entry of a player like Amazon will definitely pose a challenge for the incumbent players. However, food and grocery is relatively more complex than other categories. It will be interesting to see how competition in this space unfolds as more players enter it.”
It’s not just e-commerce players who want a piece of this pie. Leading brick-and-mortar Indian retailers like Reliance, Future, Godrej and the Aditya Birla groups are also making their moves.
For instance, in January this year, Godrej’s gourmet food chain Godrej Nature’s Basket which went online two years ago, tied up with Snapdeal and has listed over 700 products on it. In a press statement Mohit Khattar, managing director of Godrej Nature’s Basket, said: “We are thrilled to partner with Snapdeal.com. This is a huge opportunity for the brand to connect with all discerning customers who are currently not serviced by our offline and online formats.” Godrej Nature’s Basket, which was started in 2005 as a single store and has grown to 33 stores across multiple cities, has recently also acquired Mumbai-based e-grocer EkStop.
Venture capitalists, too, are upbeat on this space with BigBasket being the most favored one. The company has so far received around $60 million from various investors including Bessemer Venture Partners, Ascent Capital, Helion Ventures, Zodius Fund and LionRock Capital. According to Venture Intelligence, a research services firm focused on private equity and M&A deals, ZopNow’s investors include Accel India and Qualcomm Ventures while EkStop has received funding from Jungle Ventures and Unilazer Ventures. LocalBanya, which has raised $20 million so far in three rounds from Springboard Fund, realtor Karmvir Avant Group and others, is now reported to be looking to raise another $15 million.
A Different Recipe
Technopak’s Singh says that with nearly two-thirds of the retail market being food and grocery, it won’t be surprising if even more players eye this space. However, she adds a note of caution: Online grocery needs to be approached with a different level of preparedness. “The approach to online grocery needs to be more localized and hence their sellers and processes need to be aligned to local fulfilment. This is a different ball game than what is done in other categories.” Singh also believes that while the “traction in larger cities has been encouraging so far, for smaller cities the case still needs to be built.”
“With Amazon’s deep pockets and experience with Amazon Fresh, it will [pose] a big challenge for BigBasket and other local firms.” –Kartik Hosanagar
Snapdeal’s cofounder Kunal Bahl points out that supply chain, specifically temperature controlled storage, transport and delivery systems play a “pivotal role” in making the gourmet e-commerce ecosystem viable. “India has just begun to work in this direction and it will take time to move beyond the metro cities and reach the vast segment which has high purchasing power but lives in tier 2 and tier 3 cities,” he says.
According to Wharton’s Hosanagar, a key challenge is that grocery is a low-margin business. Specialty foods, he says, is better from a margin standpoint, but it still does not have the economics of, say, the apparel industry. “On top of it, there are logistics challenges, and the business needs a lot of capital investment. For it to be economically viable, one needs cart sizes that are big enough. This means that the product offering has to be broad. A [further] challenge in India is that since kirana [neighborhood] stores drop off groceries at home for no fee, grocery shopping isn’t as inconvenient as in the U.S. So the value proposition is a little weaker in India.”
K. Ganesh, serial entrepreneur and co-promoter of BigBasket, disagrees. Physical grocery retail in India, he says, is “broken and dysfunctional because of problems of high rentals, high shrinkage and high inventory costs.” And while Ganesh concedes that neighborhood stores do offer the advantage of quick home delivery, he points out that because of their very nature, these stores have limited offerings. “Most consumers have to do a fair bit of their grocery shopping at department stores. Heavy traffic on the roads and lack of adequate parking make this a very stressful experience. Put all this together, and there is a compelling case for e-grocery in India.”
Adds Menon of BigBasket: “If you look at the grocery buying pattern in the country, a typical urban Indian household does the bulk of its grocery shopping on a monthly basis. This is done primarily at department stores which offer variety and discounts. The shopping at neighborhood stores is mainly for top-ups.
What we are targeting at present is the shopping done in the larger stores. Over time, we hope to offer express delivery — within an hour or two — and get a share of the neighborhood stores also.” According to Menon, customers at BigBasket purchase at an average of 2.6 times a month. Through the use of analytics, Menon wants to push this up to four times a month. “It’s ambitious and requires a huge change of habit in our customers. But we believe that we will definitely get to three visits in six to eight months from now,” he says.
Margins Game
Ganesh and Menon also counter the argument about low margins in this business. According to them, margins can be as high as 22%. But this, they say, requires strong domain expertise in order to source and grade the products, as well as going deep into the supply chain and building strong relationships with farmers and mill owners and FMCG companies. “Building one’s own brand is also critical,” says Ganesh. He adds that unlike a horizontal play, where you can ship from a central location to the whole country, food and groceries is an extremely localized business. “One needs to understand the local nuances. It’s all about building local relationships, local buying, local logistics and building the business city by city.”
“Right now, it’s a growing market and there is place for everyone. But in time we will see a shakeout and mergers and acquisitions.” –Karan Maheshwari
Do large brick-and-mortar grocery chains have an advantage in their online avatars ? Not necessarily, says Singh of Technopak. “Their DNA is completely different. Just because you have inventory doesn’t mean you will succeed online. This business requires very different capabilities like expertise in analytics, digital marketing and so on. It also requires tremendous process discipline and lots of investment in technology.” Talking to daily newspaper The Economic Times, Amit Bhartiya, advisor at LocalBanya, noted that “offline players going online cannot make a mark if they do not offer competitive pricing and value.”
The jury is still out on what is the best model for this category in India. “A marketplace model that brings together a variety of sellers offering an assortment of products is most suited for this segment,” says Snapdeal’s Bahl. “The established offline stores can expand their reach through the e-commerce channel without actually having to build it. They have the expertise in handling such products, and marketplaces like ours have expertise in connecting them with customers outside their natural geographic markets.”
LocalBanya’s cofounder and CEO Karan Mehrotra points out that his model doesn’t require much infrastructure. In an interview with daily newspaper Business Standard , he says: “We connect with existing retailers and grocery stores. We do not compete with them. We work with them, adding the online channel to the existing vertical.” Ganesh thinks this category needs an inventory-led model. “Some of the players buy from large stores and supply to their customers, but this is not scalable,” he says, adding that since the ticket sizes are small, scale is critical to be successful in this business. BigBasket itself holds a 10-day inventory for all its products, except for fruits and vegetables. For these, it holds an inventory of less than two days.
What no one disputes however is the headroom for growth in the sector. “The more the number of players who enter this segment, the faster will be the growth,” says Bahl. He is also not worried about a player like Amazon with deep pockets and global expertise. Echoing the sentiments of others in the industry, Bahl says: “India is a very diverse country and a complex market. The effectiveness and efficiency in adapting to the Indian markets will define how any company will fare here.” Adds Karan Maheshwari, one of the early angel investors in EkStop: “Right now, it’s a growing market and there is a place for everyone. But in time we will see a shakeout and mergers and acquisitions.” Some of that has already started.
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Published on Aug. 25, 2024
By: Ben Gran
Costco recently raised its membership prices, so you might be wondering if Costco is still worth it, especially if you don't live close to a local warehouse. Here's the thing: at the risk of sounding like an excessively impassioned Costco fanboy -- I believe that Costco membership is worth the price, even if you never set foot in a Costco warehouse.
Let's look at a few ways that Costco online shopping can help you get premium products and valuable services, while leaving more money in your bank account .
Costco is famous for its "treasure hunts" where you can wander through the warehouse aisles and find surprising deals on furniture, appliances, tech gadgets, home goods, and more. But you don't have to go to a warehouse to get Costco treasure hunts -- they're offered online, too.
As of Aug. 18, 2024, Costco.com was offering the following "treasure hunt" deals:
Costco.com also offers everyday deals on big-ticket items. If you're in the market for a new fridge, stove, sofa, or TV, check Costco.com and compare prices with other major retailers. You might often find better prices at Costco, and you can get built-in Costco technical support and a two-year warranty.
Costco has great deals on bulk groceries and packaged foods -- but what if you don't have time to visit the warehouse? Luckily, Costco offers online grocery delivery. You can sign up for Costco Sameday and use Instacart to shop at Costco for you.
Using Instacart at Costco will cost more than shopping at the warehouse yourself. But this can be worth it if you're pressed for time and just want to get those Costco grocery deals into your kitchen and pantry.
You can even use Costco Sameday to bring rotisserie chickens and big boxes of delicious Costco cookies to your house! That's worth $65 per year already.
If you buy big-ticket items online from Costco, you might qualify for extra discounts from a special program called Costco Direct. This is a perk that many shoppers might not know about, but it's great.
Costco Direct is online only, and it usually applies only to big-ticket items that have to be delivered, like appliances, furniture, or TVs. But if you're renovating a house, upgrading your living room, or suddenly need to replace multiple appliances at once, Costco Direct can help you save big.
Costco has special online partnerships with premium brands through its Costco Next program. This is another little-known way to use Costco online shopping to get access to great deals on high-end products.
With Costco Next, you use your Costco membership to sign in to the Costco Next portal, and click on the brand you want to buy. Next you get taken to a special online shopping site where you can access special Costco member prices, and then you shop directly with the other brand.
Costco Next brand partners include:
Costco Travel is an online travel agency for Costco members, and it offers surprising deals on cruises, all-inclusive resorts, vacation packages, hotels, and more. If you want to try something totally new for your next vacation and you want the reassurance of Costco's seal of approval, Costco Travel can be a great way to book your trip.
Even if you live too far from a Costco warehouse to partake of the food court hot dog combo deal, Costco online shopping can be worth the price of membership. Just by shopping online on Costco.com and using Costco's special programs like Costco Direct and Costco Next, you can maximize your Costco experience without ever going to the warehouse.
Ben Gran is a freelance writer based in Des Moines, Iowa. He has written for regional banks, fintechs, and major financial services companies. Ben is a graduate of Rice University.
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She wants to protect the right to abortion nationally. Here’s what else to know about her positions.
By Maggie Astor
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A high-powered CEO puts her career and family on the line when she begins a torrid affair with her much younger intern. A high-powered CEO puts her career and family on the line when she begins a torrid affair with her much younger intern. A high-powered CEO puts her career and family on the line when she begins a torrid affair with her much younger intern.
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Report Overview. The India online grocery market size was valued at USD 2.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 37.1% from 2021 to 2028. The market has gained immense traction over the past months on account of the changing lifestyle of the consumers, growing urbanization, and the tech-savvy ...
Search words and phrases included online grocery, e-commerce in India, online grocery stores, online retail, e-grocery, grocery retailing. The integrative approach is used to shape the analysis of ...
Our predictions show that the total grocery retail market will most likely reach INR 85.46 trillion, or approximately $1.10 trillion, by the year 2030. (This figure supports the predictions made by the Boston Consulting Group's Retailers Association of India report in February 2021, which was between INR 85 trillion and 90 trillion, or $1.1 ...
As a result of the growing popularity of online grocery shopping, research interest has increased, and the need to evaluate the impact of the pandemic on consumer behavior has been recognized in marketing science (Ha and Harris, 2020, Roggeveen and Sethuraman, 2020). Despite increasing interest in this topic, the literature remains unclear as ...
IJCRT2107375 International Journal of Creative Research Thoughts (IJCRT) www.ijcrt.org d327 CONSUMER PERCEPTION TOWARDS ONLINE GROCERY SHOPPING 1Shipra Agrawal, 2Snehal, 3Tushar Kandhari 1Student , 2Student , 3Student 1Symbiosis Centre for Management Studies, Pune, ... online grocery, consumer perception, India, grocery market 1. INTRODUCTION ...
This research investigates about the purchase behaviour of customers towards online grocery shopping. The study aims to understand the purchase behaviour of e-grocery shoppers of India and to examine the association between satisfactions with online purchase, trust on online grocers, perceived risk and online repurchase intention of grocery items.
The Indian e-Commerce market is predicted to grow double size from current 32.7$ (2019) to 71.9$ billion in 2022 (eMarketeers, Economictimes.com). Online food and grocery market in India has entered into the digital age and growing with a 25-30% rate and expected CAGR by 66% during 2018-23 (Livemint Financial Express).
The India online grocery market size has been projected to grow from $ 4,540.0 M in 2022 to $ 76,761.0 Million by 2032, at a CAGR of 32.7% through 2032. ... is a significant e-commerce center in South India, where online grocery shopping is very common. The online grocery business is expanding in Chennai, the capital of Tamil Nadu, especially ...
In the context of online grocery shopping, the PU has a positive and significant impact on online OGSI (Driediger ... in science from Utkal University, India, and his master's degree in Agribusiness and marketing at Utkal University, India. His current research interests comprised; consumer behavior in online retailing, Neural network modelling ...
Kashyap, N., (2020). Online Grocery Shopping in India: Anticipating Trends Post-Pandemic. European Journal of Molecular & Clinical Medicine, 10(07). Kaur, H. & Shukla, R. (2017). Consumer's attitude for acceptance of online grocery shopping in India, International Journal of Current Research, 9(05), 50776-50784.
Online Grocery Market in India The online grocery market in India has gained a lot of traction over the past few months with the emergence of a host of first-generation start-ups and already established traditional grocery chains expanding to the digital platform. India's online grocery market is estimated to grow at a compounded annual growth ...
A Study of Consumer Attitude Towards. Online Shopping in India and Its Impact. Komal B. Sharma. Researcher. Ahmedabad, Gujarat. [email protected]. Abstract. The trend of e-commerce has ...
Online shopping has been shown to provide more satisfaction to modern consumers seeking convenience and speed (Yu and Wu, 2007.) The online grocery market constitutes a niche market subject to overall food and grocery market in India. Nevertheless, online grocery shopping is a relatively new environment that is rapidly gaining popularity
The Indian online grocery market size reached US$ 9.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 80.6 Billion by 2032, exhibiting a growth rate (CAGR) of 26.7% during 2024-2032. The rapid expansion of internet penetration and smartphones usage, increasing urbanization and busy lifestyles of consumers, outbreak ...
IOSR Journal of Business and Management (IOSR-JBM) e-ISSN: 2278-487X, p-ISSN: 2319-7668 Special Issue - AETM'16 48 | Page Consumer's Purchase Intentions for E-Grocery Shopping in India Himanshu Budhiraja1, Kanav Mittal2 1,2 (Research Scholar, Chitkara Business School, Rajpura, India) ABSTRACT: Online grocery business is at emerging stage in India.
The Food Industry Association (2020) conducted an online survey from March 21 to 26, and found that about 77% of participants chose to shop groceries online, which is more than twice the percent of monthly online shoppers from the U.S. Grocery Shoppers Trends research one year ago. Among the studied participants, 17% were new to OGS, and 4% had ...
Knowledge at Wharton Staff. U.K.-based Ocado, the world's largest online grocery firm (or e-grocer), recently posted its first ever full-year profit. Ocado, which started operations in the year ...
instore shopping is tiring, 20% of people initiate e-grocer y shopping due to the recommendation, 26.7% of people need any time shopping, and 12.2% of respondents have no time to go to the store ...
Future research can use a larger sample size and a mixed-methods approach to understand consumer behavior towards online shopping in India better. Additionally, future research can explore the impact of trust and security on consumer behavior towards online shopping. CONCLUSION The study provides insights into consumer behavior towards online ...
Statistics report about online shopping behavior in India. This report provides statistics about online grocery shopping in India. It offers an overview of the online grocery and quick commerce ...
Full-service market research and analytics. ... Premium Statistic Consumer opinion towards online shopping in India 2023, ... Online grocery shopping
ly takes to shopping online in a country seeing rapid growth in Internet usage.Consulting firm technopak predicts a $70-billion annual market by 2020, up from $600-million now, which is just 0.05% of global online s. up to 100% by 2020."E-commerce: A boon for the current economic downturn"First data corporation and ICIC Merchant Service has ...
Costco offers online shopping deals and discounts that can be worth more than the price of membership. Costco Direct gives you extra discounts of $100, $200, $300, or $400 when you buy multiple ...
With Vice President Kamala Harris having replaced President Biden on the Democratic ticket, her stances on key issues will be scrutinized by both parties and the nation's voters.. She has a long ...
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