Identifying Potential Markets for an Online Grocery Store with the Help of Competitor Analysis
Overview of Online Grocery Industry in the US
While revenue for marketers in the Online Grocery Sales industry fell during the recession, the industry’s overall performance was not seriously marred over the period. Americans’ affinity for the internet has accelerated online grocery shopping. Broadband connections have developed, and the number of mobile internet connections skyrocketed, strengthening demand for online retail services. While the percentage of consumers shopping from the online grocery store has just starting to grow, the online shopping trends seem to be indicative of a new wave of buying behavior that is sure to shake up the grocery retail industry and online grocery shopping as a whole. Looking ahead, the next five years promise strong growth for the online grocery industry.
What is a Competitor Analysis?
A competitor analysis deals with an in-depth review of a wide range of market data and its interpretation that exhibits your competitors’ strategies and tactics, as well as their positives and negatives in comparison to your own product/service offerings.
A competitor analysis framework assists organizations to outsmart the global competition by capturing and keep tracking of the current state of the market. A detailed competitor analysis framework offers a starting point for the development of competitive marketing strategies in order to stay ahead of the game.
About the Client
The client is one of the leading online grocery store established in the US, with over 12,000 associates and $27 billion in revenues.
Interested to know more about the current shopping trends? Continue reading to know how the competitor analysis framework helped the online grocery store or Request a FREE proposal.