The UK online food and grocery market is set to be worth £11.1 billion by 2017, almost double its current value of £5.6 billion, according to the latest research published today (17 Oct) by IGD at its Trading in a digital world conference. This represents a compound annual growth rate (CAGR) of 14.6 per cent between 2012 and 2017.
IGD ShopperVista research found:
*44 per cent said they expect to use the internet to buy their groceries in the next five to ten years
*58 per cent of shoppers told us technology is good at helping them save money when doing their food and grocery shopping, while 54 per cent said it helps to save time
*46 per cent of online shoppers would be encouraged to buy more of their groceries using the internet if personalised promotions were emailed to them
Joanne Denney-Finch, chief executive, IGD, said, “Although online only currently represents 3.4 per cent of the overall UK grocery market, it is the fastest growing sector – set to grow by a phenomenal 98 per cent over the next five years.
She added, “Although online grocery is still in its infancy it is evolving at a blistering pace. Food companies need to view their websites as digital assets that not only sell groceries, but also add to the shopping experience through initiatives such as product reviews and ratings, or live chat with members of staff.” (17 Oct)
© 2012 - ESM: European Supermarket Magazine
