Analysts are expecting BigBasket, Grofers and other similar Indian online grocery stores to top $3 billion sales this year as the demand for home delivery of essentials witnesses a sudden spike due to the nationwide lockdown. This would also mean a 76% growth over the last year. The demand is likely to stay till the end of the year as the medical fraternity is yet to come up with a suitable vaccine which can be administered to the general public. Several firms are working on vaccines and several proposed vaccines are under various phases of development or trials.
Citizens have switched to online grocery stores for buying essentials. Grocery stores had to battle disrupted supply chains and truncated workforce in the initial phases of lockdown, but are now scaling up quickly to compete with other firms. Several businesses, noticing opportunities in the online grocery market, are planning to provide similar services to survive during the global crisis and the post COVID world, as their core offerings have taken a big hit due to the pandemic.
Swiggy and Zomato have started delivering grocery as the lockdown has resulted in restaurants shutting down for an indefinite period of time. The online food ordering platforms’ idea is to expand their business beyond food delivery to make up for lost demand from their core offering. Reliance recently rolled out JioMart, a grocery delivery service launched in tie-up with Facebook’s instant messenger WhatsApp.
