Study: U.S. online grocery retail market worth $26.87B by 2025
Millennials constitute the largest consumer group in U.S. population and form the largest working population group in the country.
The U.S. online grocery retail market size is expected to reach $26.87 billion by 2025, according to a study conducted by Hexa Research, Felton, Calif. The growth of the market is attributed to increasing adoption of advanced technology, access to high-speed internet and easy online availability of various products. The rising number of online grocery shoppers is also expected to further drive market expansion. For instance, the number of American households buying online grocery products has increased by about 14% from 2014.
Millennials constitute the largest consumer group in U.S. population and form the largest working population group in the country. Hence, they prefer convenient shopping options when it comes to grocery. Weekly discounts and offers lure Millennials into spending online. Thus, the digitally advanced generation is anticipated to augment the market in future.
Innovative packaging and marketing strategies are also attracting Millennials to spend more on online grocery products in the United States. However, retailers are coupling durability with design to attract a large customer base. For instance, meat packaging is made available in various innovative containers. As a result, availability of advanced packaging solutions are likely to drive growth.