Forrester just released The State of Global Online Retail, 2018. The headlines are clear:
- Forrester expects the global online grocery market to double from $150 billion in 2017 to $334 billion by 2022, powered by increased investment by retailers in the online channel. This represents a 17% annual CAGR.
- The market is wide open as retailers race to become the default provider. Online grocery sales comprised just 2.9% of total global grocery retail sales in 2017. This compares to online retail’s share of nearly 13% on a global basis.
- Adoption by country varies wildly, based on a number of factors from geography to economic maturity. While the U.S. operates at a mid-point of both nexuses, mature markets like South Korea demonstrate higher than average retail and grocery participation while a market like China has huge online retail sales but a relatively small share of that is in grocery.
Read more here.