Current Trends and Emerging Of Retail Online Ordering System – AVA ROOS
India has emerged as one of the most dynamic retail industries in the world. Accounting for over 10 percent of the country’s Gross Domestic Product (GDP) and approximately 8 percent of the employment, it is expected to nearly double from US$ 600 billion in 2015 to US$ 1 trillion by 2020. That would mean a Compound Annual Growth Rate (CAGR) of 16.7 percent over 2015-2020.
The retail industry, which currently stands at US$ 625 billion, has evolved over the past decade with major domestic and international players playing a significant role. They have long-term plans of expanding business across verticals, cities and formats owing to a spurt in online retail activity in the last few years.
Keeping in mind growing online potential, not just brands but retail chains are upgrading sites to make it more convenient for customers to shop online exclusively food and Restaurant industry.
Going forward, the total number of online shoppers is estimated to grow 3.5 times from 50 million in 2015 to 175 million by 2020. where F&B alone will touch 1.4 times in this coming years.
Consumer goods in different categories including electronics, grocery, apparel and home appliances are available online F&B sector where online ordering system is high on demand with the other range of products is expected to grow further.
An interesting trend is that Fashion and Restaurants (ROOS)is emerging as the fastest growing category in India’s booming e-commerce market, backed by strong technology and marketing strategies.
By 2020, India is expected to generate US$ 100 billion online retail revenue out of which US$ 35 billion will come from fashion e-commerce followed by the updated system for Restaurants becoming trendy within people for various reasons.
This clearly implies that online sales are set to grow four times in the next five years and will contribute significantly to the burgeoning growth in e-commerce.
This may surprise a few since Indian shoppers have traditionally been skeptical about shopping for clothes online, as they loved to sit in an atmosphere with family and friends and enjoy the food while waiting to give order whereas the trend is changing that more of take aways and quick order is preferred due to various reasons especially with this Fast Life. This initially deterred them from buying online. Today, that hurdle is a thing of the past.
With increased awareness and easy-to-use applications, shoppers have largely migrated to shopping online for F&B specifically Restaurants which has mobile app and Online ordering hitting the market.
E-tailors are constantly trying innovative strategies to cater to the unique needs and preferences of customers.
They provide consumers quality products and services to strengthen the trust. They have bridged the gap between retailer and customer through online to offline space leading to an enhanced shopping experience for the customer.
We even have one-click systems updated in world’s top most retail food chain which is the Latest in ordering system.
Reference: The Economist Article on E-Commerce.
Online Sales for bakery rise faster than overall Grocery with AVA ROOS:
Total Online grocery sales increased 4.6% to $6.6bn, a third faster than the 3.4% rise in instore sales according to Recent Survey
But online remains a tiny part of grocery market, Accounting for 6.4% of overall grocery sales, up just 0.1% from the previous year. Bakery is performing behind the overall grocery market, with online sales accounting for 4.7% of total ambient bakery
Expert analytics report described the 0.1%Increase in online grocery sales as “a pedestrian rate”.
“Despite the Hype and attention given to online and its ability to change the way people shop, the reality seems rather different, many will be surprised it’s not faster, but online shopping grocery, unlike many other sectors it’s much more a complimentary option to stores not an “instead of “option.
Online shopping dominated by ‘the big shop’ and weekly trips, which account for 82% of online trips compared to 57% instore. Adding that the issue with growing online shopping was frequency, as consumers bought groceries online less than once a month compared to early 21 times month instore.
Experts suggest that growing online market share would be down to convenience. Adding the factors include the rise of voice assistants from google and apple the dash button from amazon and the expansion of supermarket click and collect could make 2018 “seismic year for online grocery.
These are all making it easier for shoppers, while online meal-kit and ‘box’ subscriptions, such as hello fresh gaze, are offering new purchasing opportunities.