Online food and grocery sales will grow by 66% in Europe by 2023 and by 163% globally, according to a new report from IGD.
The growth is forecast to add $257bn (£202bn) to the global food and consumer goods industry.
Asia is predicted to grow the fastest, by 192%, followed by North America at 152%.
The change will make e-commerce’s share of grocery in Asia three times that in Europe by 2023, according to IGD, at 7.5% compared with 2.5%.
The report, in association with the Consumer Goods Forum, also predicts trends, including increasing moves by successful online retailers into offline, either through their own stores or alliances with traditional retailers, along with the growing importance of D2C.
“While of course growth remains challenging for all of the established players in the industry, many are nevertheless finding that the ongoing disruption presents exciting opportunities,” said Consumer Goods Forum MD Peter Freedman.
No comments yet