Online grocery sales are poised to take off as new players inundate the market, and there is a marked difference in the growth rates of traditional brick-and-mortar grocery sales compared to online grocery sales, according to a new report by Kanar Worldpanel. Online sales are expected to jump threefold between now and 2020 as online grocery options such as AmazonFresh, Peapod and other competitors inundate the market.
Currently, however, online grocery sales account for a small portion of the U.S. market. The country with the greatest share of online sales is South Korea at over 16 percent followed by Japan at 7.2 percent. According to Stéphane Roger, global shopper and retail director at Kantar Worldpanel, “Although online sales have the potential to cannibalize in-store sales, it is vital that retailers act quickly to develop a strong eCommerce presence…The retailer that goes online first in each market can enjoy a far higher market share.”
Here are the data:
$150 billion | The percentage of total online worldwide grocery market sales expected by 2020; the percentage is currently $48 billion
157% | The jump in U.S. grocery sales expected in 2016 as new delivery options come on the market
16.6% | The percentage of total grocery sales accounted for by online sales in South Korea
15% | The growth in online grocery sales compared to 1.6 percent growth for total worldwide sales of fast-moving consumer goods
1.4% | The percentage of current U.S. grocery sales accounted by online sales
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