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Key Emerging Trends in the Almond Drink Market
Various technological advancements, including the emergence of automated fulfillment centers and innovative delivery solutions, play a crucial role in enhancing delivery speed and positioning online stores as efficient and convenient solutions. The intense competition for a larger share of the online market is anticipated to lead to a decrease in order sizes eligible for free delivery and the introduction of creative solutions for the last-mile network. These developments are expected to not only cut costs but also enhance accessibility. New entrants in the industry are leveraging advanced methods to attract customers. For example, in April 2020, Walmart Inc., in collaboration with Nextdoor, Inc., introduced the “Neighbors Helping Neighbors” program, facilitating neighbors to assist each other during the COVID-19 pandemic. Through this initiative, Nextdoor members can request or offer help with essential shopping at Walmart, showcasing the impact of technological advancements on the growth of the global online grocery market in the forecast period. Another significant factor driving the growth of the global online grocery market is the surge in promotional activities and discounts adopted by key players in the industry. Companies are consistently focusing on attracting customers through various promotional strategies, prominently including discounts. Many major players offer enticing discounts to attract new customers, some even bundling them with free delivery for first-time users. Some companies go a step further by eliminating fuel surcharges from their delivery fees. The use of online or mobile coupons and mobile shopping lists is a prevalent form of in-store digital engagement. Tesco, a leading British retailer, illustrates this trend with its extensive operations in the UK, featuring over 3500 stores and more than 310,000 employees. Tesco frequently offers buy-one-get-one-free deals on select products, and its loyalty program, Tesco Clubcard, rewards customers with points for every purchase, which can later be redeemed for discounts. Additionally, Tesco introduced a strategic move in February 2020 to bolster its market position by matching hundreds of product prices with Aldi, a major German-based supplier. This new price match policy ensures that many of Tesco's brand products are available at the same price as Aldi. The surge in promotional activities and discounts is expected to be a significant driver for the growth of the global online grocery market throughout the forecast period. Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Growing acceptance of almond drinks in the food service industry |
| Market Dynamics | Growing awareness of the health benefits of almonds |
Almond Drink Market Highlights:
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