Increasing demand for Express Delivery coupled with Growing Internet User's in the Vietnam will drive the Online Grocery Market: Ken Research

Impact of Covid-19: The online grocery Industry in Vietnam witnessed a triple digit growth during the Covid-19 pandemic as people avoided going to crowded places and shifted to buying grocery online. Companies experienced a surge in average order size as customers were shopping in bulk. Average delivery time also increased to seven to ten days.  In order to fulfil the increased demand, companies expanded their delivery fleet by partnering with third party delivery companies to manage last-mile logistics.

Expanding Partnerships: It is anticipated that companies would be expanding tie ups with suppliers & grocery stores, food delivery companies, e-wallet companies to leverage their capabilities to fulfil customer orders. Introduction of express delivery, regional expansion, diversification of product portfolio, focus on achieving operational efficiency and establishment of dark store are the future strategies that can be adopted the companies.

Future Technology: Drone Technology, Voice Ordering, Artificial Intelligence, Warehouse Automation is anticipated to drive the online grocery delivery market in future. Incorporating AI in front end would enable the company to create personalized shopping experience for the customer. Demand prediction and consumer behaviour analysis is crucial to ensure sufficient availability of products and to maintain minimum wastage.

According to the report by Ken Research titled "Vietnam Online Grocery Market Outlook to 2026 - Market Driven by Increasing Smartphone Penetration, Changing Shopping Habits of Consumers and Regional Expansion of the Online Grocery Players", the Online Grocery Delivery Market will grow at a CAGR of 20.4% during the period 2021P – 2026F. The market will witness growth owing to changing purchasing habits of consumers, rapid growing e-commerce awareness and introduction of subscription models & innovative strategies adopted by service provides.

Key Segments Covered:-

By Product Category

By Mode of Payment

By Age Group

By Type of Business

By   Mode of Delivery

By   Cities

Companies Covered:-

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Vietnam Online Grocery Market

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