1. News
May 16, 2016

Online grocery AskMe Grocery plans expansion in India

India-based AskMe Grocery has plans to expand its presence to more than 40 cities in the country.

India-based AskMe Grocery has plans to expand its presence to more than 40 cities in the country.

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

By next March, it estimates the value of the products sold through its online platform to reach $268.9m.

AskMe Grocery co-founder Ankit Jain was quoted by Press Trust of India that it aims to achieve this with new partnerships and expansion of its fresh food segment.

"The hyperlocal delivery model has really helped us."

Jain said: "Grocery online has a lot of potential when the business is at a scale. We have been doing well and our average cart size is about Rs1,900 and we are already processing 20,000 orders daily. The hyperlocal delivery model has really helped us."

In order to offer convenience and better deals to consumers, the company has partnered with several kirana (local) store owners.

According to Jain, the business is growing at 30% month-on-month.

Meanwhile, the company has partnered with Mother Dairy in the Delhi-National Capital Region (NCR) to offer organic food products of the dairy chain on its website.

As of February, the company operated in 38 cities, and now, its expansion plan expand into tier-II towns over the next three to six months.

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.