The latest report by IMARC Group, titled “GCC Online Grocery Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the GCC online grocery market is expected to exhibit a CAGR of 29.53% during the forecast period (2022-2027). Online grocery stores are various e-commerce-based web and mobile applications that are used to purchase food and other necessary household products over the internet. These platforms offer flexible payment options and enable the users to track the delivery process, select different delivery slots, and access a wide range of products. It also provides the advantages of express delivery options, accessible payment gateways, cashback, and attractive discounts. Owing to these benefits, online grocery platforms are gaining traction, especially among the millennial population of the GCC region.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
GCC Online Grocery Market Trends:
The market is primarily driven by the boosting sales of smartphones and smart devices in the GCC region. Due to the growing internet penetration, individuals across the region are becoming more tech-savvy. Besides this, the increasing working population and hectic lifestyles of individuals are contributing to the market growth. In addition, the market is also propelled by the growing influence of social media platforms such as Instagram and Facebook. Nowadays, individuals spend a considerable amount of time on these websites on a daily basis, due to which various key players are investing in celebrity endorsements and online marketing strategies to strengthen their market foothold. Moreover, with the sudden outbreak of the coronavirus (COVID-19) pandemic, consumers are widely adopting online grocery shopping as these platforms offer contactless delivery of essential products and convenient digital payment methods to minimize the spread of the disease. On account of these factors, the market is expected to witness positive growth in the upcoming years.
- Based on the product type, the market has been segmented into vegetables and fruits, dairy products, staples and cooking essentials, snacks, meat and seafood, and others.
- On the basis of the business model, the market has been classified into pure marketplace, hybrid marketplace, and others.
- Based on the platform, the market has been bifurcated into web-based and app-based.
- On the basis of the purchase type, the market has been segregated into one-time and subscription.
- On the geographical front, the market has been divided into Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Bahrain.
- The competitive landscape of the market has been examined in the report, along with the profiles of key players operating in the industry.
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