Global B2B Online Grocery Market, By Product Category (Condiments and Seasonings, Food Grains & Flours, Bread & Bakery, Dairy Products, Meat & Poultry Products, Other), By Mode of Payment (Pre-Delivery Online Payment, Online Payment on Delivery, Cash on Delivery) By Region, Competition Forecast & Opportunities, 2027
Global B2B Online Grocery Market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027. With the proliferation of e-commerce websites, online grocery shopping has shown tremendous growth over recent years. This primarily is strengthening the B2B online grocery market. Moreover, the stringent lockdown conditions across the globe amid COVID-19 have created attractive opportunities for food industry suppliers. Leading market players, start-ups, and several other small and medium-scale enterprises have shifted their traditional offline grocery stores to online channels by developing an on-demand grocery app solution. A B2B e-commerce site also offers an automated cross-sell and up-sell recommendation program that allows easy reordering on previous purchases, including a personalized interface and negotiated prices. This also enables bulk shopping with a hassle-free experience and doorstep delivery.
B2B (business-to-business) online grocery refers to the purchase of fresh, packaged, and frozen food products such as cereals, drinks, vegetables, fruits, meat, seafood, poultry, dairy, and several other cooking essentials between businesses rather than between business and customers. A B2B transaction is carried out between two companies, for instance, a wholesaler and an online retailer.
Technological Advancements in Online Grocery Apps Propels the Market Growth
The integration of comprehensive analytics tools helps the organizations track, measure, and evaluate sales effectiveness, inventory turns, customer needs, and customer engagements. For instance, google analytics facilitates e-commerce tracking by integrating analytics with the ERP of the grocery app and delivers useful insights and valuable data. Moreover, B2B online business provides an online presence, and the increasing employment of SEO content for the organization’s e-commerce website helps the company rank higher on the search engine, which results in increased market reach and sales.
Increasing Penetration of Smartphones and Rising Acceptance for Online Payment Mode
As most of the economies are going paperless, the inclination toward the online mode of payment is increasing. This can be accredited to the increasing penetration of smartphones and the internet, along with the growing reliance on online transactions. Moreover, online ordering and payments provide numerous benefits to consumers. Food suppliers can order bulk supplies with online payment on delivery or cash on delivery options to the vendors, which also allows them to cross-check the food commodities before making them available over their websites. For instance, according to a survey, in 2021, the online grocery customer base roughly counted for 150 million shoppers in the United States market alone.
The Global B2B online grocery Market is segmented by product type, by mode of payment, competitional landscape, and regional distribution. Based on the product category, the market is segmented into condiments and seasonings, food grains & flours, bread & bakery, dairy products, meat & poultry products, and other. By mode of payment the market is bifurcated into pre-delivery online payment, online payment on delivery, and cash on delivery. The market analysis also studies the regional segmentation divided among North America, Europe, Asia Pacific, Middle east and Africa, South America.
Amazon.in, Inc., 3 Seasons Technology Co., Ltd.( eFoodChoice), Jumbotail Technologies Pvt. Ltd., Oknettv Pty Ltd (Agorara), Telio Vietnam Co., Ltd, Foodstrade, and BioLinked are the major companies of Global B2B online grocery.
In this report, Global B2B online grocery Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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