Online Grocery Shopping Expected to Surge by 2024

Published Tuesday, April 10, 2018   www.grability.com

Seventy percent of consumers will be grocery shopping online by 2024.

That's just one of the astounding revelations contained within the latest edition of The Digitally Engaged Shopper, a collaborative analysis by trade association Food Marketing Institute (FMI) and market researcher Nielsen into current and future digital shopping behaviors within the food retail marketplace.

Another is the remarkable prediction that consumers could be spending $100 billion per year on online grocery—equivalent to every single household in the United States purchasing approximately $850 in online food and beverages.

The second consecutive annual joint assessment by these groups, its research findings build upon those issued in 2017, and were announced in January at the FMI Midwinter Conference in Miami, Fla. An extraordinary distinction between the two resides in its past prediction that "digital food retailing would reach saturation in 10 years, but 2017 was a year of disruption."

 

"We now expect that in just 5-7 years, as many as 70% of U.S. consumers will regularly purchase consumer packaged goods online," states its latest incarnation.

With omnichannel shopping becoming more commonplace and online grocery shopping trending increasingly toward the mainstream, other key revelations of the analysis include: the faster acceptance and adoption of mobile commerce by consumers; that "online shopping is pervasive," with 49% of U.S. consumers shopping for such products online; and that "age and affluence are no longer inhibitors to online shopping."

“The grocery industry is currently in the age of digital experimentation, where the roadmap on how to navigate and achieve real and profitable growth continues to evolve,” summarized U.S. President FMCG and Retail at Nielsen, Chris Morley, in a press release announcing the 2018 study's publication.

The research identified six so-called digital transformation imperatives for omnichannel success.

 

These include:

  • Aligning organizational structures for omnichannel success
  • Addressing discrepant datasets
  • Integrating forecasts to increase operational efficiencies
  • Optimizing shopper insights
  • Improving marketing and promotions
  • Merging digital and in-store shelf capabilities

Contact Grability today to learn how to maximize the many online grocery shopping trends and opportunities identified by the FMI/Nielsen analysis.

 

 

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GRABILITY

B2B mobile retail tech company Grability is revolutionizing online grocery shopping with an innovative mobile commerce platform that mimics key components of the real-life, in-store experience digitally, enabling users to browse genuine aisles and select goods and products with ease, from wherever they are, whenever they choose. This customizable mobile application can integrate with all back-end systems, empowering retailers and helping to effectively increase conversion rates and create a new revenue stream from digital-trade marketing.

Topics: online grocery shopping

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