Grocery sales to grow 4% in next 4 years: report

Retail sales in grocery grew 6% in 2021.

Grocery sales in Asia are expected to see a compound annual growth rate of 4% between 2021 and 2026, Euromonitor International reported.

In 2021, grocery sales in the region grew by 6%. Food and beverage e-commerce particularly saw a double-digit increase.

“Consumers expect faster delivery,” the report read in part. “The ease and availability of delivery has been a declining motivation for online shopping in Asia Pacific over the last few years. This means delivery capabilities are losing novelty.”

Online grocery platform HappyFresh, for instance, plans to open 100 stores in 2022 alone; whilst Ubder Eats market has entered Japan with two dark stores in March 2022.

Euromonitor noted that the grocery sales will need partnerships to stay competitive. This will help retailers have more access to a larger consumer base, as well as shorted delivery times.

“Lotte Super, the supermarket division of Lotte Group, partnered with bakery giant SPC Group to launch Happy Butler, a service that delivers groceries and everyday necessities within an hour,” the report also said.

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