Online grocery seen to be a P51-billion market by 2025
THE online grocery market in the Philippines is expected to become a P50.6billion market by 2025, according to independent London-based analytics and consulting firm GlobalData Plc.
Details of GlobalData’s Philippines Grocery Industry Report was sent in an e-mailed press statement by AllDay Marts, Inc. on Monday.
The growth of the online grocery market is expected after online grocery spending grew by 153% in 2020 as consumers shifted to digital transactions amid the implementation of coronavirus disease 2019 (COVID-19) restrictions, GlobalData said.
In terms of its compound annual market growth (CAGR), the country’s online grocery market is expected to grow by 32.5% between 2020 to 2025 from its 62.3% CAGR seen in 2015 to 2020.
“The approach of [grocery stores] using their own web or app plus a partnership with marketplaces helps supermarkets reach more customers and fuels the growth online,” GlobalData said.
Meanwhile, it said the mid-premium supermarket segment is attracting “a wider spectrum of shoppers” via regular deals and promotion in-store and online.