Forrester Research estimates that online grocery spending around the world will double within the next five years, reaching $334 billion. The report finds that the market enters the mature phase in South Korea, china, Australia and the UK. Online food sales in the U.S. and Germany are going to gain the most critical mass.
Online grocery sales made up less than 3 percent of total grocery spending in 2017, leaving untapped potential for retailers.
Retailers are racing to become consumers' main grocery store by investing billion in touchpoints, technology and logistics.
Global online sales make up 13 percent of total retail revenue, with online grocery sales making up more than 3 percent of total grocery sales. Home delivery is becoming the most common method.
The U.S. is expected to move into a growth stage within the coming years due to online buyers and retailers' aggressive investments in e-commerce.
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