Tata Group plans to venture into online groceries with Tesco as it steps up to Amazon and Alibaba
Tata Group is all set to compete with Amazon and Alibaba in the online grocery sector as it plans to roll out pilot venture Starquik, as an online channel for Trent Hypermarket, an equal joint venture between Tata and British retailer Tesco, according to Economic Times.
Tata Group plans to venture into online groceries to step up to Amazon and Alibaba
Amazon, which recently snapped up Whole Foods in fresh deal estimated at $13.7bn, is too eyeing online grocery store Grofers which is backed by Japan's SoftBank group.
Meanwhile, Alibaba and Paytm Mall are set to venture into online grocery by investing an estimated $200m in online grocery store, Big Basket.
According to Forrester, online spending in India grew by 11% in the first half of 2017. Despite a decline in average online spend per buyer in 2016 due to demonetization and less discounting, the latest data from Forrester shows that online spending in India grew in the first half of 2017.
Online grocers are learning to leverage mobile to grow adoption in key markets, such as India and China, according to a Morgan Stanley research, which will further boost Tata's initiative.