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ECOMMERCE PRODUCT CATEGORIES


HIGH GROWTH RATE, LOW ONLINE SHARE: GROCERY ECOMMERCE ON TRACK FOR FUTURE
EXPANSION

Article by Antonia Tönnies | December 10, 2024

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Topics

Care Products, DIY, Electronics, Fashion, Furniture & Homeware, Grocery, Hobby &
Leisure, Product Category Insights

eCommerce offers something for everyone, from the ultimate fashion item to a
customized smartphone. In 2023, one product category in particular came into
focus: Grocery.  

With a growth rate of 11.8% between 2022 and 2023, Grocery is distinguished as
the fastest growing eCommerce category. Meanwhile, the online share – the
proportion of retail volume transacted via an internet-connected website, mobile
or app – is the lowest, in comparison to other categories. 


GROCERY AS THE FASTEST GROWING ECOMMERCE CATEGORY WORLDWIDE  

Such a distribution is outstanding among the eCommerce categories and points to
significant untapped potential that is already evident in the earliest
forecasts: Market forecasts conducted by our analysts at ECDB estimate the
Grocery market to reach US$763 billion by 2028 – doubling its 2023 revenue of
US$391 billion. The online share will also grow rapidly from 4.8% in 2023 to
8.3% in 2028, reflecting the development of Grocery into an online product. 

For a better overview, ECDB generally differentiates products in eCommerce
across seven main categories, including Grocery, DIY (Do-It-Yourself), Hobby &
Leisure, Furniture & Homeware, Fashion, Care Products, and Electronics, which in
turn have further sub-categories. 

The Grocery category represents a unique mix: high growth potential with a low
starting base in online adoption, making room for future revenue growth in
eCommerce as well as innovation. 


Q-COMMERCE AND COVID BOOSTED ONLINE GROCERY SHOPPING 

One event that brought eCommerce innovation to the fore in the grocery market,
as well as other categories, was the COVID-19 pandemic. Quick commerce, also
known as q-commerce, experienced a gold rush in 2020 with the launch of various
fast delivery services such as Flink and Gorillas, but also the success of other
players such as Getir, Uber Eats or Just Eat Takeaway. The market profited
strongly, in particular during 2020, when it generated US$282.9 billion in
revenue – a jump of 41.5% compared to 2019.  

As the pandemic situation subsided, demand for online grocery subsided briefly
in 2022, but growth rates picked up again in 2023. Once encouraged by lockdowns
and social distancing, other factors such as convenience, time saving or
availability are now driving online grocery shopping.  


ONLINE GROCERY TRENDS VARY BY REGION: INDIA WITH STRONG TREND FOR ULTRA-FAST
DELIVERY   

Online stores such as chaoshi.tmall.com, walmart.com, and tesco.com are top
providers. These players offer different models to make online grocery shopping
as convenient as possible, including different click-and-collect and delivery
systems. The latter is particularly evident in India, where the market leans
towards ultra-fast delivery, in some cases less than 10 minutes. Players like
Blinkit are challenging traditional stores, raising the question whether the
approach is viable in the long term.  

While q-commerce is still on the rise in some countries, such as India, the
concept has proven to be less than lucrative in European countries. Instead,
supermarket chains such as Carrefour S.A. and REWE Group have invested in home
delivery within a few days. Although these options are slower than q-commerce,
they attract customers with flexible delivery times.



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