UK: Online grocery sales to double by 2017
The UK's internet grocery market will be worth GBP11.7bn (US$) by 2017
UK online grocery sales are set to double over the next five years, according to figures from industry analysts IGD.
Figures released by IGD today (17 October) show the UK's internet grocery market will be worth GBP11.7bn (US$18.9bn) by 2017, almost double its current value of GBP5.6bn.
This represents a CAGR of 14.6% between 2012 and 2017, it noted.
IGD chief executive Joanne Denney-Finch said that while online only currently represents 3.4% of the overall UK grocery market, it is the fastest growing sector.
"Increasing smartphone and tablet use together with new fourth generation (4G) mobile technology, should boost online grocery shopping and allow shoppers to use all services retailers provide from in-store navigation to using QR codes to access recipe ideas," she said.
"Although online grocery is still in its infancy it is evolving at a blistering pace. Food companies need to view their websites as digital assets that not only sell groceries, but also add to the shopping experience through initiatives such as product reviews and ratings, or live chat with members of staff."
Sectors: Baby food, Bakery, Canned food, Cereal, Chilled foods, Confectionery, Dairy, Dried foods, Fresh produce, Frozen, Ice cream, Meat & poultry, Multichannel, Private label, Retail, Seafood, Snacks, World foods
- Campbell Soup Co.'s M&A plans should avoid fresh
- Mead Johnson wrestles "irrational" Chinese market
- Briefing: How is gluten-free faring in Europe?
- On the money: Unilever aims to get food growing
- 10 things to learn: Campbell's plans for growth
- Hain Celestial buys plant-based food firm Mona
- Post, TreeHouse "in talks over ConAgra own-label"
- Nestle replaces India MD after Maggi scandal
- Lactalis surpasses Danone on dairy league table
- Mondelez Mexico investment to hit 600 US jobs