The US Online Grocery Market: Size, Trends & Forecasts (2020-2024 Edition)
- Report Description Table of Contents
Scope of the Report
The report titled “The US Online Grocery Market: Size, Trends & Forecasts (2020-2024 Edition)” delivers an analysis of the US online grocery market with comprehensive analysis of market sizing and growth. The analysis includes market size in terms of value, market share by segments, and segment analysis as well with their forecasted values. A brief overview of global retail grocery market is also provided in the report.
Furthermore, the report also assesses the key opportunities available in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US online grocery market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The US online grocery market is in its nascent stage and market share is dominated by only few major players such as Walmart Inc., Amazon.Com, Inc., The Kroger Co., and Costco Wholesale Corporation whose company profiling has been done in the report, which include their business overview, financial overview and respective business strategies.
- Walmart Inc.
- Amazon.Com, Inc.
- The Kroger Co.
- Costco Wholesale Corporation
Grocery generally refers to food and beverages items as well as consumables. In the tech-savvy world, there is hardly any field or area is left where technological advancements have not taken place. And grocery shopping is also not far behind in this race. In older days, people generally do grocery shopping from their nearby convenience or supermarket stores. But, with the increasing penetration of internet and smartphones, online grocery shopping has gained popularity over the past few years.
Grocery stores can be broadly categorized into three formats: small format, large format, and electronic/online. Online grocery shopping is a recent trend that has developed as a form of e-commerce. Such type of stores can be either in the form of brick-and-mortar supermarket or general grocery stores that allow the customers to shop online from the comfort of their own homes or work places. These online stores made grocery shopping easier and convenient for the customers with the help of internet.
Currently, in grocery shopping, online channels accounted for a small proportion of the total grocery market in the US, but anticipations are made that the market would gain momentum over the next five years i.e. 2020 to 2024. The market is expected to grow on the back of rising millennial population, growing e-commerce market, expansion of business models by major players, integration of voice technology, rising demand for grocery apps etc. However, the growth of the market is restrained by factors such as escalating storage and delivery cost, lack of personal verifiability of groceries, price fluctuation of grocery items etc.