Online grocery shoppers hungry for more
Food and grocery research and training charity IGD has issued a report forecasting that Britain's food and grocery market is set to grow 10% by 2021 on the back of an explosion in online shopping and the increasing strength of discount retailers.
IGD says the online market could grow by 68% in the next five years. A record 29% of grocery shoppers had bought online in the past month, compared with 20% in 2010.
IGD's research also shows 42% of grocery shoppers say that they could be converted to online shopping.
IGD also believes the online ventures will help encourage shoppers into visiting the stores' bricks and mortar equivalents to make use of the many services or concessions on offer inside.
The research found that by 2021, £1 in every £8 could be spent at discount stores, up from £1 in £10 this year.
During the same period the value grocery sector could be worth nearly £25bn, although their growth is likely to be slowed as the large supermarkets learn how to best react to changing consumer habits.
Come 64% of shoppers say that changes such as better prices, better loyalty rewards, more staff and local, independent concessions would encourage them to use larger stores more often.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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