Online grocery retailing set to double by 2015
The value of grocery shopping conducted over the internet is predicted to nearly double to 9.5bn in five years compared to its current level of 4.8bn, according to new research published by IGD
Online shopping will represent 5.2% of the overall UK grocery market by 2015, compared to 3.2% at the moment.
Joanne Denney-Finch, chief executive, IGD, said,“Online grocery retailing is already growing at a phenomenal rate and there is still plenty of potential for significant expansion. Although online has a small share of the overall grocery market, it will be the fastest growing channel.
“IGD research found 7% of shoppers say they are buying all their regular groceries online.Our latest ShopperTrack data shows 13% say they will use the internet to do more of their food and grocery shopping over the next 12 months, mainly driven by 18-34 year-olds.
“Retailers are driving online growth through new developments, such as ‘click and collect’, introducing smart phone apps and building stores specifically to cater for online orders.
“Wider delivery coverage and better home internet connections are some of the other reasons why internet grocery retail has the potential to grow significantly.”
The Retail Bulletin is organising their 2nd Multichannel Summit, to be held in London February 2nd 2011. The event is sponsored by k3 retail and will look at how retailers can maximize profits, market share and loyalty through cost effective, seamless, integrated multichannel strategies.
If you would like to attend as either a delegate or Networking Partner, go to www.retailbulletinconferences.com/multichannel2011