E-retail is giving tough competition to physical stores, gaining ground in revenue and visibility as consumers distance themselves from the traditional supermarket model.
The competition in the food retail market has increased in recent years. Traditional food retailers are facing fierce pressure from alternative channels, including warehouse clubs, supercenters, drug stores, mass retailers and convenience stores, as well as online retailers and grocery delivery services. Let’s take a look into how e-retail, in terms of food and grocery, is winning brownie points.
Success story of e-retail so far
Virtual baskets don’t necessarily mirror physical ones, with the relationship being inversely proportional in nature. As consumers warm up to the idea of e-grocery, retailers are realizing that some categories of products are simply better suited for e-commerce than others. This leads to discrepancies in adaptation rates varying from market to market. While immediate use items like fresh and frozen foods, condiments and beverages are slower in adoption for the western market, the abundance of fresh produce farming leads to a spike in purchase of these products for East. There is also a tremendous opportunity among niche consumer segments — especially in the healthy eating space and other categories that may be more difficult to find on instore shelves. E-commerce is well suited to specialty retailing because it allows companies to offer greater product selection in a category than would typically be available in brick-and-mortar stores – a factor that forms an integral benchmark of globalization in markets of India and her neighbours.
Trends that contribute to the success of food e-commerce
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Gurgaon's First and Most Successful Independent F&G Retailer
SINCE LAUNCHING ITS FIRST OUTLET IN THE YEAR 2000 IN DLF GURGAON AT A TIME WHEN MODERN TRADE FOOD AND GROCERY STORES WERE NOWHERE ON THE RETAIL HORIZONS OF THE MILLENNIUM CITY, NEEDS SUPERMARKET HAS GROWN TO ADD 26 LARGE, MEDIUM AND SMALL STORES TO ITS KITTY, CLOCKING AN ADMIRABLE RUN RATE ON VARIOUS PARAMETERS OF RETAILING EXCELLENCE ALONG THE WAY. PROGRESSIVE GROCER SPOKE TO NEEDS SUPERMARKET’S MD AJAY DHAR, AND CEO, ARUN KHATTAR, ABOUT HOW THE GROCERY CHAIN HAS BEEN ABLE TO HOLD ITS OWN AND CLOCK STEADY GROWTH IN A HYPER-COMPETITIVE MARKET DOTTED WITH BIG-BOX NATIONAL RETAILERS AND THE SECRET SAUCE BEHIND ITS SUCCESS RECIPE.
Paras Spices is innovating with unique products to meet new trends in the spices category
CATEGORY WATCH FOOD STAPLES
Brands and retailers collaborate to promote the growth of non-alcoholic beverages
SUPER-HERB INFUSED BEVERAGES THAT BRING THE POWER-PACKED GOODNESS OF SUPERFRUITS ARE TAKING THE MARKET BY STORM. THESE NONALCOHOLIC BEVERAGES CLAIM TO CONTAIN ZERO CALORIES, ZERO SUGAR, ZERO ARTIFICIAL SWEETENERS, AND ZERO PRESERVATIVES AND ARE DESIGNED FOR TODAY’S MILLENNIAL-GEN WHO ARE SEEKING A HEALTHY DRINK WITH A TASTY TWIST.
Just Outside the Box
THE HUMBLE PARKING LOT HAS BECOME A DIFFERENT KIND OF RETAIL DESTINATION AND HUB OF COMMERCE.
Increased Focus on Health, Wellness, and Immunity-boosting Products
SALES OF PACKAGED FOODS HAVE SURGED SINCE THE ONSET OF THE PANDEMIC, AS HOME-BOUND CONSUMERS STOCKPILE FAMILIAR PRODUCTS THAT WON’T GO STALE QUICKLY. BREAKFAST CEREALS, INSTANT NOODLES, RICE AND COOKING FATS ARE AMONG THE PRODUCTS THAT HAVE SEEN THE STRONGEST GROWTH IN RECENT MONTHS.
Consumer focus on hygiene & nutrition boosts packaged paneer sales
THE DEMAND FOR CATEGORIES SUCH AS CHEESE AND PANEER HAS WITNESSED AN ALL-TIME NEW HIGH DURING THIS PANDEMIC THANKS TO THE VERSATILE NATURE OF THESE PRODUCTS. NOT ONLY IS PANEER DELICIOUS TO TASTE BUT DURING THE HEIGHT OF THE LOCKDOWN, THE INTERNET WAS TRENDING WITH UNIQUE, FUN AND EASY-TO-MAKE PANEER RECIPES.
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ACQUISITIONS, ADJACENCIES AND INNOVATION DEFINE THE GLOBAL BRANDED FOOD COMPANY’S GROWTH STRATEGY
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THE POST-PANDEMIC CONSUMER WILL DEMAND BETTER-FOR-YOU MEAL SOLUTIONS MORE THAN EVER BEFORE.
The rise of superfoods and ways to mainstream them on retail shelves
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What is driving consumers to become more conscious of what they eat?
WITH CONSUMERS BECOMING MORE HEALTH-CONSCIOUS, RETAILERS HAVE ALSO STARTED MAKING SHIFTS IN THEIR OWN MERCHANDISING AND MARKETING TO KEEP UP WITH THE TREND.
