Malaysia's E-Grocery Mart Set To Grow To US$650 Million By 2025

KUALA LUMPUR, Feb 28 (Bernama) -- Malaysia's e-grocery market is expected to grow to US$650 million (US$1 = RM4.44) by 2025 and will continue to see double-digit growth year-on-year, says honestbee Chief Marketing Officer, Pauline Png. She said in 2015, the e-grocery market was valued at US$29 million in Malaysia. "That is a miniscule amount as the market penetration rate for e-grocery is only at 0.5 per cent currently, so there's a lot of untapped potentials for groceries store to go online. "honestbee helps brick-and-mortar grocers expand their reach without having to invest in infrastructure and enable them to focus on their core businesses," she told reporters after the launch of the honestbee app here Tuesday. The online grocery concierge and delivery service can be accessed online or downloaded through the Apple App Store or Google Play Store. There are currently over 10 well-renowned outlets on the honestbee platform, which included Ben's Independent Grocer, Southern Rock Seafood, La Juiceria, Wondermilk and GNC. The company also planned to partner up with other local grocery supermarkets such as Giant and AEON BiG, said Png. Customers could choose from over 60,000 items in honestbee's app or website, and the groceries would be delivered to them at the requested time. The delivery service covered most of the Klang Valley area, from the northern tip of Desa Park City to Petaling Jaya and Subang Jaya. Aside from Kuala Lumpur, honestbee had also been operating in Singapore, Hong Kong, Taipei, Jakarta, Bangkok and Tokyo, among others. Png said the company would also consider expanding its business to other states in Malaysia, depending on the customers' reception in Kuala Lumpur. "We want grocers to know that we are not their competitors, it is a win-win situation for both players. "We help our partners grow their database, which would lead to a positive growth to their businesses," she said. --BERNAMA