Since March 2020, the COVID-19 pandemic has fundamentally changed people’s lifestyle, namely the way they make retail purchases. With confinement, social distancing, and other safety measures in place, homebound customers had no choice but to go online to buy goods and services and merchants had to adapt their business model to reach them.
In Canada, e-Commerce retail sales soared in all sectors, with a significant spike in online grocery retail. In the U.S., a recent report from grocery e-Commerce platform Mercatus in collaboration with research firm Incisiv showed that online grocery shopping is not just a trend and is expected to grow substantially over the next five years. The study, which polled 60,000 consumers, pointed out the following:
— 43% of consumers reported that they shopped online for groceries in the last six months versus 24% in 2018.
— The adoption rate was highest among the 25-44 age group (50%), 39% for the 45-54 age group, followed by 36% for shoppers 65 years-old and above.
— Online grocery purchases will account for about 21.5% of total U.S. grocery sales by 2025, reaching an estimated $250 billion.
— Close to 90% of online grocery shoppers expect to continue buying food online post-pandemic.
— The 60,000 customers surveyed expressed a high degree of satisfaction throughout their online buying journey.
As data and projections continue to show that online grocery will remain a popular option even after the pandemic, customers’ expectations for a seamless and stress-free online experience will only continue to rise, and retailers will have to address it if they want to retain customers and keep ahead of the competition.
Over the last 10 months, OTT Pay has been able to anticipate its retail grocery clients’ needs thanks to years of digital payment and e-Commerce experience. Our versatile and reliable solutions helped businesses like FOODHWY, BrandCo Direct, DuDu Groceries, Lighket Mall, and many other Food & Beverage merchants create an online presence, improve their e-Commerce platform, or offer delivery and contactless payment options.
If you are a food and grocery retailer looking to leverage e-Commerce and mobile payments, look no further. OTT Pay is the right partner to help you prepare for the new realities of the online marketplace. Give our Customer Service team a call at: (+1) 800-688-9838 or email us at firstname.lastname@example.org.