New Delhi, As the e-commerce battle intensifies in India, with Reliance Retail‘s JioMart being the latest major entrant with a massive potential to disrupt the space, the next big thing is the delivery of groceries online and the market size is estimated to grow eight times in the next five years in the country.
As companies from Reliance to BigBasket put their top dollar in serving daily grocery at your doorsteps, online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024.
The eGrocery market has grown 60% from the calendar year 2020 and is expected to grow 41-49 per cent by the first half of CY21, according to the latest data provided by homegrown consulting firm RedSeer.
Another recent report by Bengaluru-based RedSeer and Bigbasket (Brand Intelligence) found that demand for comfort foods like noodles and cookies, immunity boosters such as lemon, and hygiene products like sanitisers picked up after the pandemic while essentials remained strong.
Within snacks and branded foods, biscuits and cookies were the largest sub-category and grew the most.
“We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands,” said Anil Kumar, founder and CEO of RedSeer.