McKinsey: European online farming market could exceed $12bn by 2025
October 19, 2020
Covid-19 is having a huge impact on farmers’ purchasing practices, according to new research from consultancy firm McKinsey & Company.
The survey of financial decision-makers at farms across Europe reveals that 95% of farms are considering adjusting purchasing behaviour to minimize physical interactions in response to the global pandemic.
Digital purchasing may provide the answer, with McKinsey uncovering a 36% increase in both farmers’ desire to use digital channels to make product-purchase decisions (up from 51% in 2019 to 87% post-Covid-19) and their desire to use digital channels to make actual purchases (up from 33% to 69%). Across Europe, that adds up to almost 4 million more farmers who say they are ready to use online channels as their main sources of ordering.