What's the viability of adopting online grocery shopping and do we stand to benefit from this growing trend? YahooFinance
Online grocery shopping has become increasingly popular over the years due to the convenience and hassle-free delivery services that come along with it. Amid the coronavirus pandemic, even more people are choosing to buy their groceries online, in order to heed the government’s advice to stay home and avoid crowds. Reportedly, grocery shoppers have been buying 4 to 10 times more food staples during this outbreak. Pandemic aside, there are significant advantages to shopping online.
Convenience Even for Those with an Average Grocery BillMany online grocery stores offer free delivery with reasonable minimum purchase amounts. The minimum order can be as low as S$40, and considering that most families spend around S$350 to S$475 per month on groceries, many shoppers can easily meet such minimum order requirements.
Value of Grocery DeliveryA rough calculation suggests that this figure is well worth the cost. If we consider that the median monthly income is S$4,563, we can estimate that the average hourly income is about S$24. We get this by multiplying the median monthly income by 12 , dividing it by 52 and dividing it by 44.7 . Even if your grocery shopping takes only 30 minutes, the delivery service theoretically offers a positive return on investment.
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