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Millennials and Generation Z Shoppers Elevating Use of Social Media and Digital Tools to
drive the growth of US Online Grocery and Food Delivery Market: Ken Research
Emerging startups coupled with rising number of millennials and Generation Z elevating
towards online shopping has amplified the size of the US Online Grocery and Food delivery
Industry in the US.
The report titled “US Online Grocery and Food Delivery Market Outlook to 2021 – Growing
Popularity of Online Mode of Shopping among Millennials in the US to Foster Future Growth”
by Ken Research suggested a multi bagger CAGR of 18.1% in GMV in online grocery market and
CAGR of 16.5% in online food delivery market in the US in between 2016 and 2021.
Millennial shoppers have been a driving force in the online grocery market and the percentage
of millennial shoppers has been rising over the years. Moreover, in the US, Millennials are
observed to use digital tools with regularity compared to other generations. Generation Z (less
than 18 years) and millennials tend to use these tools with respect to the associated
enthusiasm for comfort with technology. Large numbers of people are opting for online grocery
shopping owing to increased convenience, variety of products, rising awareness about online
shopping and delivery in a stipulated time. Major players such as Amazon, Google, Wal-Mart
and others have been offering and promoting the facility of same-day delivery service which
has aided market growth.
US online grocery and food delivery industry has witnessed a tremendous growth in past five
years. There have been various mergers and acquisitions in recent years and few major players
evolved in the market. Additionally, changes in consumer’s demographic factors, eating habits
along with busy schedule, advancement in information technology and availability of labor
force have created demand and opportunity in online food delivery industry in the country.
Increase in smart phone users, urban population, personal disposable income of the population
and mobile retail ecommerce sales further assisted the market in generating high revenue. The
online grocery and food delivery market in the US is highly organized with the presence of
number of small and large players. The industry competition is primarily based on price and the
convenience of service. Large number of players in the industry has led to firms facing
competition from a large number of regional and local owner-operated companies, located
mostly in key cities US is poised to be one of the fastest growing online grocery and food
delivery markets worldwide, thus catering to the needs of consumers in the country.
Key Topics Covered in the Report
On Demand Grocery Apps in US