As per the market analysis at FMI, the hyperlocal grocery Delivery market is valued at US$ 38.5 Billion in 2022 and is likely to reach US$ 81.5 billion by 2032, flourishing at a promising CAGR of 7.8%.
Being prevalent in consumer and local retail stores, hyperlocal grocery delivery platforms have gained popularity within the millennial generation while wooing the elder people by delivering groceries at their doorsteps.
Hyperlocal markets cover a certain distance, providing goods and services while hyperlocal grocery delivery platforms deliver groceries in nearby localities. The great speed, online payment integration, discounts and availability of major products are attributed to the adoption of hyperlocal grocery delivery platforms.
The popularity of hyperlocal grocery delivery platforms amongst the elderly class is prevalent as it’s hard for them to go out and buy groceries and transport it all to their residence. Hyperlocal grocery delivery platforms help in delivering the market growth, especially after the advent of covid-19
The growing delivery services along with discounts and free home delivery services are pushing the end users to adopt or switch to hyperlocal grocery delivery platforms, rapidly digitizing the goods and services space.
The hyperlocal grocery delivery platforms have also given a second life to the local vendors and supermarkets, especially during the peak of the pandemic.
Key Takeaways:
- The hyperlocal grocery delivery market is divided into Food Type, Business Model, Delivery Type, Payment Method, Preferred Location, Order type and Purchaser type.
- The hyperlocal grocery delivery market outlook defines its delivery type categories into Click-and-collect and Home Delivery. The leading segment in the delivery type category is home delivery segment.
- Global trends in the hyperlocal grocery delivery market are the faster in-time delivery, navigation systems and online payment options set up the latest trends for the hyperlocal grocery delivery market.
- The key behind the good strategy of vendors is to provide the user with better use experience. This pushes the sales of hyperlocal grocery delivery system. New advanced smartphone apps are also helping the hyperlocal grocery delivery market gain traction.
Competitive Landscape:
Some of the hyperlocal grocery delivery market key players listed in the study are Gofers India Private Limited, Asfortask Inc, Just Eat Takeaway, Uber Technologies and Instacart.
Recent Developments
- Gofers India Private Limited has improved its payment options along with utmost trust prospects and safety options. These fuels the sales of other grocery delivery platforms.
- Asfortask Inc has introduced the use of trust and safety and an option of flexible rescheduling that allows the end user to cancel their order 24 hours before the task due date, pushing the sales of hyperlocal grocery delivery platforms.
Read More: https://www.futuremarketinsights.com/reports/hyperlocal-grocery-delivery-market
