BURNABY, Canada, April 6, 2016 /PRNewswire/ --
According to a recent market research report published by global consultancy firm TechSci Research titled "India Online Grocery Market By Product, Consumer Behaviour, Competition Forecast and Opportunities, 2011 - 2021", BigBasket.com has emerged as a leader in brand awareness in competitive landscape of online grocery shopping experience in India.
BigBasket.com run by a team of professionals Mr. Hari Menon, Mr. VS Sudhakar, Mr. Vipul Parekh and Mr. Abhinay Choudhry is a professionally managed online grocery shopping company with more than 14000 products and over 1000 brands recorded revenues of US$ 34.84 Million in FY 15 which is further targeting to reach US$ 165.69 Million in FY 16.
BigBasket.com has raised more than US$ 95 Million in multiple rounds of funding till Dec 2015 and is heavily investing in its brand awareness campaigns through various media channels which has resulted in taking the company to a leadership position in India online grocery shopping brand awareness evaluation survey conducted by TechSci Research.
Brand Awareness of Online Grocery Retailers, 2015 BigBasket.com 23% Godreg Nature's Basket 15% Grofers 13% LocalBanya.com 13% PepperTap 11% Others 25%
According to the survey, growth in the market is anticipated on account of increasing youth population, growing internet penetration, escalating number of smartphone users and rising e-commerce market. Some of the other factors further aiding the India online grocery market are evolving consumption patterns, growth of modern trade format across Tier I, Tier II and Tier III cities and towns, increasing urbanization and growing disposable income.
Further BigBasket.com is followed by Godrej's Nature's basket than Grofers, LocalBanya.com and PepperTap.com in brand awareness level among consumers in the country.
Many e-commerce companies such as Snapdeal, Amazon, Flipkart, etc., are also venturing into India online grocery market. In January 2015, Godrej Nature's Basket signed a partnership with Snapdeal for selling online grocery products. Furthermore, Flipkart, is also expected to enter India online grocery market by offering fruits and vegetables using hyperlocal business model.
Brand Awareness of Online Grocery Retailers, By Age Group, 2015
Godrej Nature's Age Group BigBasket.com Basket Grofers LocalBanya.com PepperTap Others 15-25 27.06% 12.39% 17.89% 11.47% 12.39% 18.81% 26-35 21.92% 16.01% 14.04% 12.56% 9.11% 26.35% 36-45 19.53% 17.97% 6.25% 15.63% 12.50% 28.13% 46-55 21.05% 10.53% 15.79% 10.53% 15.79% 26.32% Above 55 19.44% 19.44% 8.33% 16.67% 8.33% 27.78%
In March 2015, Amazon introduced a pilot project on online grocery to provide everyday-need consumer products under the name "KiranaNow" in Bangalore. Further, the company is planning to introduce "KiranaNow" at a bigger online platform across India by April 2016.
The market for online grocery shopping is set for fierce competition many small and big players eyeing to capture the pie. Some of the other players operating in this segment includes ZopNow, Aaramshop, Reliencefreshdirect, etc. Moreover, various local retailers are introducing their website to sell grocery products online. In addition, the companies are also expanding their services in Tier II and Tier III cities across India.
Companies such as ZopNow, Aaramshop, etc., are trying to garner funds from various investors. ZopNow has already secured around US$ 80 million funding from multiple investors. While, Aaramshop is expected to receive US$ 12 million VC funding in 2016.
"India Online Grocery Market By Product Type, Consumer Behaviour, Competition Forecast and Opportunities, 2011 - 2021", has analyzed the potential of India online grocery market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research:
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research