“The Grocery Sector May Represent The Next Big Opportunity F...| MENAFN.COM

Tuesday, 05 July 2022 03:24 GMT

“The Grocery Sector May Represent The Next Big Opportunity For E-Commerce.” Dr. Prakash Bhosale

(MENAFN- EIN Presswire)

The grocery sector may represent the next big opportunity for e-commerce

Today, thanks to e-grocery, consumers can shop online and get food delivered to their homes. To optimize e-grocery home delivery, e-grocery service providers must use customer-related data.” — Dr. Prakash BhosaleMUMBAI, MAHARASHTRA, INDIA, June 24, 2022 /EINPresswire.com / -- While interacting with prospect marketing managers working in the corporate sector at an event, Dr. Prakash Bhosale said,“COVID-19 accelerated the growth in online shopping . Despite this, online shopping only accounts for 10% of total grocery sales. A huge opportunity exists in the unexplored market.”

He further stated,“Today, thanks to e-grocery, consumers can shop online and get food delivered to their homes. In spite of this, a high failure rate of deliveries caused by the absence of the customer negatively impacts logistics efficiency, especially for perishables. In order to optimize e-grocery home delivery, e-grocery service providers must use customer-related data innovatively. To optimize delivery and increase delivery success rates, the approach estimates absence probabilities based on online grocery shoppers' data.”

Grocery online shoppers data are also known as Online shopper data , food app user data, e-commerce data, internet frequent user data, Online grocery, and frequent shopper data.

Online shoppers, especially in the metro cities of India, are a major market for independent grocery stores. Ordering products online has become more comfortable for some online grocery shoppers. Below is a list of the percentage of people who shop for groceries on the internet in many parts of the country, i.e. Tier 1 cities- 65%, Tier 2 cities- 23%, Tier 3 cities- 7%, Tier 4 locations- 4%.

With a market share of over 35 percent among online grocery stores in India, Big Basket has the highest share. In addition, Grofers and Amazon are closely following. Currently, online grocery stores have a market value of more than 100 billion Indian rupees.

As a result of the covid-induced lockdowns, online grocery purchase data has reached close to 4.5 crore users. The majority of these customers buy groceries online every month, with about 27 million doing so regularly. In India, the number of people shopping for groceries online is increasing monthly by 12 lakh.

Data is king, and the more the better. It is consist of Name, phone number, email address, gender, income, industry, purchase history, abandoning shopping carts, renewing subscriptions, recently purchased items, dates, billing details, payment details, etc. Indirect and direct interactions between your brand and customers can be measured with it.

He said,“The online grocery customer data and analytics gathered from focus groups, social media, test markets, and early store rollouts can help companies improve their planning, production, and launch of new products. Develop high-demand products with predictive business models, and gain deep insights from huge consumer and market data.”

Grocery shoppers also purchase other products and services online. Online shopping is not only limited to groceries. For instance, customers' data from online groceries can be used for other eCommerce products, loans, credit cards, insurance, property, and vehicles. Personalized and hyper-personalized services are also useful for addressing customer complaints and churn during customer journeys.

Those who purchase groceries online are educated and earn Rs. 25,000/- a month or more. As a result, online grocery customers are mainly upper-middle-income and upper-income groups.

He further stated,“The grocery sector may represent the next big opportunity for e-commerce. Online grocery shopping is expected to account for over a third of the total number of online shoppers. 67% of salaried customers, 9% of self-employed customers, and 9% of other uncategorized customers buy groceries online.”

Through the collection of this information, the company can better understand its customers, make better recommendations, and anticipate their food needs. In addition to learning where to improve, what products may be having issues, and how to retain existing customers, e-grocery service providers can analyze the data from them.

Dr. Prakash Bhosale is a renowned data consultant , columnist and writer who delivers many lectures on data, entrepreneurship to various professionals, business groups .

Dr. Prakash Bhosale
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