Online Grocery May Record $3 Bn In Sales In India In 2020 Thanks To Lockdown Demand

Online Grocery May Record $3 Bn In Sales In India In 2020 Thanks To Lockdown Demand

SUMMARY

Ecommerce is expected to do additional sales of $2 Bn, registering a 6% spike

Companies like Uber, Zomato, Netmeds and Bharatpe have also entered grocery delivery business

Indian consumers’ appetite is expected to increase by 64% in the next 6 to 9 months

The Covid-19 pandemic, which has locked down the world, has come as an opportunity of growth and consolidation for the online grocery delivery segment. Not only customers, but players across the several segments have entered the domain to keep the supply chain intact.  Riding on the uptick, cab-hailing service Uber, epharmacy NetMeds, food delivery giant Zomato and digital payments platform Bharatpe have jumped in to facilitate delivery of groceries.

With supermarkets shut and kirana stores struggling to deliver, the online grocery segment is set for a phenomenal surge. US-based market research company Forrester Research noted that India’s online grocery market could make $3 Bn in sales this year, representing a whopping 76% hike compared to $1.7 Bn last year. The research firm has attributed this growth to the demand of fresh produce and staples during the nation-wide lockdown.

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