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The ecommerce Grocery landscape has become one of the hottest areas of ecommerce today.
As a leader in insights for the grocery ecommerce market, Market Beyond will be attending Groceryshop Las Vegas at the end of October. This one-of-a-kind event puts some of the leading minds in this space together for a 3-day innovation masterclass. In preparation for the event, we’ve put together some key ways insights can contribute to success in this multi-billion dollar market.
The Fast Growing World of Ecommerce Groceries
If you’re reading this, you probably already know that grocery ecommerce is set to outgrow in-store sales tenfold, and that by 2022, “nearly one-tenth of total grocery sales will be online, expected to grow 13 percent each year compared with the 1.3 percent compound annual growth rate expected in-store”.
And that online grocery sales are predicted to capture 20% of total grocery retail by 2025 to reach $100 billion in consumer sales. This market is huge and growing actively, resulting in massive opportunities for those set up to take advantage of them.
If anything, the early dominance of this space by players like Amazon has proven that data, and data-driven insights, are the key to carving out success in this highly competitive market.
Leveraging Insights: Key Take-Aways
Being a company that provides incredible insights for industry leaders, here are some key benefits of these insights:
- Get Ahead of the Competition
With the right data-driven insights, you can be aware of what your competitors are doing. You can also understand how your shoppers are behaving, what their consumer journey looks like, and where competitors might be stealing your loyal customers. This can be done all the way down to product level. With the right insights, you can ensure that your pricing, availability, shipping terms, and descriptions are better than your competitors’, all but guaranteeing your success.
- Identify New Opportunities
The right insights can show where you should be focusing your efforts. It could be a hot new product line that is starting to take off, which allows you to build up stock or set up pre-orders; or a new geographical market to target. These insights should be available in real-time, allowing you to move fast and seize the advantage early.
- Identify and Eliminate Your Weak Spots
All businesses have areas that can be improved. Insights can pinpoint these areas. You can eliminate inefficiencies, cut bad product lines, or make sure you invest in the right advertising campaign. Whether it’s logistics, inventory, or sales, you can leverage insights to boost performance across your business.
- Align Your Brand As a Market Leader
As competition in the industry hots up, consumers will be looking for names they can trust. By demonstrating that you understand the industry, consumer needs, and future trends, you can position your brand perfectly to be set up for future success.
Get The All The Benefits Of Insights
There is no doubt that the ecommerce Grocery landscape is full of opportunity. It is also clear that the way to access this opportunity is to leverage insights.
Market Beyond is your partner when it comes to insights for the ecommerce Grocery market. With real-time, actionable insights, and spanning everything from macro trends to new market opportunities and even product-level optimizations, your journey to ecommerce grocery success starts with Market Beyond.
Meet us at Groceryshop 2018, Las Vegas! Schedule a meeting with Market Beyond’s team to learn more about real actionable insights for groceries e-commerce and how they can advance your ecommerce business.