A common and practical way to buy a variety of home goods and groceries online is through online grocery shopping. Fresh vegetables, dairy, canned goods, and cleaning supplies are just a few of the products that customers may peruse, choose, and purchase via mobile apps or from the comfort of their own homes. Visiting an e-commerce website or grocery app, opening an account, adding products to virtual carts, and completing the checkout process securely online are all part of the process. To accommodate customer preferences, a range of delivery alternatives are available, including scheduled pickups and doorstep delivery. Customers can avoid actual store visits, lineups, and packed aisles with this time-saving strategy.
According to SPER market research, ‘Vietnam Online Grocery Market Size- By Product Category, By Mode of Payment, By Age Group, By Type of Business, By Mode of Delivery – Regional Outlook, Competitive Strategies and Segment Forecast to 2032’state that the Vietnam Online Grocery Market is predicted to reach USD XX billion by 2032 with a CAGR of XX%.
Vietnam’s online grocery business is expanding due to rising smartphone and internet usage, which is made possible by more accessible data plans and better infrastructure. Because of the way that urbanisation has changed people’s lives, especially in places like Hanoi and Ho Chi Minh City, online grocery shopping is a convenient way for working urbanites to save time. Growing discretionary incomes are a factor in people’s willingness to pay for doorstep delivery convenience, particularly among the middle class. The convenience of flexible delivery alternatives, such as same-day or next-day services, is increased and the need to schedule journeys to actual stores is decreased.
During the forecast period, the demand is predicted to increase at a double-digit CAGR based on GMV. To complete consumer orders, businesses are expected to concentrate on growing their partnerships with suppliers and supermarkets. Future technologies including voice ordering, warehouse automation, drone delivery, and others are anticipated to fuel demand. In the future, it is anticipated that the market would consolidate as larger businesses with stronger financial positions will buy out smaller competitors.
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The COVID-19 epidemic has expedited the global and Vietnamese adoption of online food shopping. Many customers are looking for internet alternatives to fulfil their basic demands as a result of lockdowns and social distancing efforts. During this time, the benefits of online grocery shopping—including its convenience and security—became even more evident, and sales of groceries online continued to rise.
The two largest cities in Vietnam in terms of population and urbanisation are Ho Chi Minh City and Hanoi. These cities are prepared to build up transportation, grocery procurement, warehouse facilities, and other backend activities.
The majority of online grocery delivery service consumers are working professionals, and they are primarily based in Da Nang, Hanoi, and Ho Chi Minh City.
Vietnam Online Grocery Market Key Players:
There are only six to eight major companies in the market that use the omnichannel and marketplace models. Major elements impacting customer behaviour have included delivery cost, delivery time, app interface, discounts and offers, return policy, and ease of payment. The main competitors are Tiki, Lazada, and Shopee. Businesses with a broad regional reach, a wide range of products, and expedited delivery are recognised as the industry leaders. Additionally, some of the market key players are Annam Gourmet, Bach Hoa Xanh, Chopp, Co.opmart, Farmer’s Market, and others.
Vietnam Online Grocery Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Product Category: Based on the Product Category, Vietnam Online Grocery Market is segmented as; Beauty & Health, Food & Beverages Fresh Food, Household supplies, Others.
By Mode of Payment: Based on the Mode of Payment, Vietnam Online Grocery Market is segmented as; Cash on Delivery, Online Payments.
By Age Group: Based on the Age Group, Vietnam Online Grocery Market is segmented as; 18-24 years, 25-34 years, 35-44 years, 45+ years.
By Type of Business: Based on the Type of Business, Vietnam Online Grocery Market is segmented as; B2B, B2C.
By Mode of Delivery: Based on the Mode of Delivery, Vietnam Online Grocery Market is segmented as; In a specific time period, Express Delivery, Others.
By Region: The two largest cities in Vietnam in terms of population and urbanisation are Ho Chi Minh City and Hanoi. These cities have the necessary infrastructure for setting up storage facilities, transportation, grocery shopping, and other back-end tasks. In Ho Chi Minh City, Hanoi, and Da Nang, the majority of working professionals who utilise online grocery delivery services are concentrated. This report also provides the data for key regional segments of Central Highlands, Mekong River Delta, North Central Coast, Northeast and other parts of Vietnam.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Vietnam Online Grocery Market Scope
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