Winning Customers in 2020 with Innovative Online Grocery Store Solution
The online grocery market is abuzz with activity and is growing at a rapid rate with more consumers gaining confidence in ordering groceries online. The grocery industry is a thriving battleground due to its sheer characteristics like high-frequency buying, repeat purchase rates, loyal customers and growing size of the sector. According to a report by Crisil, the next 3 years will witness the grocery industry quadruple to 100 billion in revenue. This growth is here to stay and the battle for supremacy will gain momentum.
So, what will the grocery industry look like in 2020? What should retailers do to earn the winning streak?
Making it more Digitally Engaging
Innovation is the key, to begin with for any online grocer. Retailers intend to look for and address customer pain points across all touchpoints on their buying journey. Making their online grocery store solution more personalized and innovative will keep their head above the pack.
Enhancing benefit programs like personalized offers, coupons, rewards, click and collect facility will make several consumers stick to online shopping. Online grocery store solutions will enable consumers to buy more exciting products at attractive price and in a more convenient way.
A study by Food Marketing Institute conducted by Nielsen revealed that online grocery sales will play a formidable role in capturing almost 20% of total grocery retail by 2025 making it the next major retail sector.
Innovative online grocery store solution transforming the path to purchase
As more customers are embracing online grocery shopping, the retailers intend to take their online grocery store solution even further with advanced technologies. Consumers want faster and cheaper deliveries and this is a major demand that grocers need to fulfill. Innovative delivery strategies, demand forecasting and analyzing customer purchase data will continue to be the most poignant aspect of online grocery and retailers are leaving no stone unturned. Automated warehouses powered by AI will not only remove the possibility of human error but also make it faster and efficient.
The potential of AI is immense in this sector and will help retailers to identify the shopping patterns, product preference, spending motivations and behaviors. The competition is going to get tougher over the course of 2020 and the right insights will help retailers to evolve and expand their online grocery store solution.
Voice-enabled commerce is gaining popularity at a rapid rate and promises to provide a seamless experience to customers. A study by Adobe has revealed that more than 91% of the companies are investing in voice technologies making more and more shoppers happy.
Boost in online sales revenue
Grocery retailers are curating robust omnichannel retail solutions and strategies to make the most of this growing demand for a convenient grocery shopping experience. A study has predicted that online sales will account for 7.4% of grocery sales by 2020. Retailers intend to provide a richer shopping experience through their app that will enable shoppers to order groceries, clip coupons, create personalized shopping lists as some of the main features.
The food retail market is witnessing an innovation as the technology world is evolving. Retailers in 2020 are pulling down rival efforts to stay ahead by making online grocery store solutions more personalized and unique.