December 30, 2014 Comments Off on Online grocery shopping is the next big thing
Online grocery shopping is all about freedom. The speed of transaction offers us utmost convenience, saving us precious time and allowing us to pursue other things. According to market research company IBISWorld, global online grocery shopping will grow to $9.4 billion in 2017, accelerating from $6 billion in 2012. This promising forecast is the reason why big retail companies like Amazon, Walmart and Fresh Direct are all riding the wave and developing their own online grocery shopping services today. One startup that aims to disrupt the online grocery shopping space is Instacart. What makes Instacart different from the likes of Amazon and Walmart is it doesn’t have inventory, warehouses or fleets of trucks. Instead, the company uses existing grocery stores such as Costco, Berkeley Bowl and Whole Foods as its grocery partners. Orders are placed through Instacart’s mobile app or website and a personal shopper will have the groceries delivered to your home in an hour to three hours max. Its lean business model allows the company to expand in cities easily. The service is currently available in 15 cities in the US.
Recently, Instacart has raised $220 million at a rumoured valuation of $2 billion. You can read about the funding here.
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