The leading strategy adopted among consumers to reduce their grocery bill was looking out for deals and specials, followed by switching between different supermarkets to buy certain products. Over 40 percent of grocery shoppers indicated groceries were a significant stressor for them, with many searching for ways to reduce their household spending on food.
Significant price hikes were seen across many grocery product categories in Australia in 2022, with prices continuing to grow in 2023. How is inflation affecting consumer spending on groceries? In recent years, many grocery retailers have advanced their online shopping platforms, by optimizing supply chains, mobile applications, and websites, in response to the growing preference. Coles and Woolworths were the leading retailers for online grocery and beverage shopping in Australia in 2022, followed by meal delivery company, HelloFresh. More and more people across Australia prefer the convenience of ordering their weekly shop online, with many online grocery shoppers not intending to return to their pre-pandemic in-store shopping habits.
The online grocery sector is set to grow as Australian preferences for grocery shopping channels slowly change. Online grocery shopping has become increasingly popular over the past few years, likely due to in-store shopping restrictions as a result of the COVID-19 pandemic. Furthermore, Woolworths and Coles could lose some customers to discount competitors Aldi and Costco over the next few years as customers search for cheaper options.Īustralia’s expanding online grocery market Nonetheless, the industry has been somewhat disrupted by growth in food delivery service usage, boasting short delivery times and convenience. Due to the ongoing dominance of Woolworths and Coles in Australia, it is increasingly difficult for new players to enter the market. Nonetheless, Aldi has yet to introduce online ordering, thus remains behind its rivals. German company, Aldi, holds the third-largest share of Australia’s grocery market, with just shy of 40 percent of shoppers across the country reporting regularly purchasing food and products from Aldi stores.
Woolworths has enjoyed steady food sales revenue over the past few years, with sales reaching over 45 billion Australian dollars in 2022. In 2022, the Woolworths Group was Australia’s largest grocery retailer by market share, holding over 37 percent of the market, followed by its primary competitor, the Coles Group. Grocery retail market leaders in AustraliaĪustralia’s supermarket industry is dominated by four main companies, Woolworths, Coles, Aldi, and Metcash (IGA).
0 kommentar(er)
