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Global market research reveals that the F&B segment must continue to innovate to promote sustainability

Global market research reveals that the F&B segment must continue to innovate to promote sustainability
The Siliconreview
05 July, 2021

Global market research suggests that food retailers and brick-and-mortar shops will continue to run their physical stores while setting up an instant online service. Online grocery is all set to become the next big thing in the online F&B retail business, as research predictions show that it is expected to peak at $10.5 billion by the end of 2023. In the digital world, we live in, online grocery and food delivery is growing exponentially. They also offer better safety and convenience in this global pandemic. Customers are also on a constant lookout for new ways to completely switch to online grocery services.

 Even though there is huge potential in this segment, the growth has been very limited due to various factors like lack of trust in the digital model, fear of conventional approach, and complex guidance. Only a company that can provide smooth service can flourish in the online retail segment, and there is also enough place for newcomers. Now that customers are actively moving towards online shopping, they are also expecting instant service. Retailers are now setting up several dark stores to meet the growing demands and customer expectations. Pick up option is also available where the users can purchase everything online and pick it up from the nearest store.