By Andrew Schreiber, 23-Sep-2014
India’s online retail market for food and groceries is set to soar thanks to growing internet and smartphone penetration, a new report by the US Department of Agriculture has revealed.According to the report, growth in India’s online food and grocery retailing segment is a function of the rise in total internet users from 120m to 213m in the past year, a fall in mobile handset prices and a rise in smartphone penetration.
Online food and grocery retailing sites have increased from 14 in 2013 to 44 as of September 2014, targeting younger and professional population segments.
Target Audience
The report pointed out that Indian consumers are overcoming biases against purchasing items without prior inspection and the safety of automated online transactions.
“This shifting tendency is brought about by competitive pricing and the convenience of shopping for groceries from the comfort of one’s own home.
“Consumers are seeing that online retail provides some benefits over going to independent small grocers or store-based retailers’ outlets,” the report said.
In addition, the availability of multiple payment methodologies such as online banking, credit cards, debit cards and cash-on-delivery have meant that it is convenient for urban Indian consumers to shop online while saving both time and money, it added.
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