Online Grocery Sales to Grow Through 2027
Total U.S. grocery sales are forecast to grow at a compound average growth rate of 11.7 percent over the next five years, according to the 2023 Brick Meets Click/Mercatus 5-Year Grocery Sales Forecast. Sustained growth will increase digital grocery’s share of overall grocery spending to 13.6 percent in 2027....
Digital wallet use on the rise for grocery shopping
Digital payments became more widespread during the pandemic, especially among millennials and Generation Z consumers. A study from PYMNTS shows that 24% of respondents used digital wallets to pay for their previous grocery purchase.
Consumers buy fewer groceries to save money
Inflation has led 72% of shoppers to cut down on the number of grocery items they buy, according to Morning Consult. Consumers are also trying to save money by buying less meat, comparing prices, shopping at multiple stores, buying in bulk, using coupons and opting for generic or store...
The self-checkout grocery debate continues
In today’s grocery space, most grocers offer the choice at the checkout lane. With the older generation of shoppers, there was a time when one checkout lane was all there was to choose from. So, no debate even existed. The younger generation has always had two lane options. So,...
Grocery customers willing to wait longer for reduced fees
Shoppers cite lower service fees as the main reason they choose grocery pickup over delivery, and half say they would opt for next day delivery or longer if the option came with reduced fees, according to a Mercatus poll. “It turns out that by giving customers a choice about...
Digital grocery sales continue to rise
Delivery and pickup account for 48.3% and 51.7% of all digital grocery fulfillment, respectively, according to data from Incisiv and Wynshop. Digital grocery sales rose 10.6% in August compared with the month before, and digital basket size increased 8.5%. Read more …
Retailers are still opening stores in spite of recession fears
Despite fears of a recession, US retailers have announced 4,432 store openings compared with 1,954 closings so far this year. Read more …
In Spite of Worries About Inflation, Downturn, Retail Leasing Has Thrived This Year
Strong consumer spending over the past year has prompted retailers to open more stores than they closed. But concerns about rising inflation and the economy this summer have led some to hit the pause button on expansion for now, according to retail analysts. Read more …
What inflation means for retailers this year
Soaring inflation is poised to affect several aspects of consumers’ shopping habits, starting with the likelihood that many will make fewer trips to the store, Unity Marketing founder Pamela Danziger writes. Spending is likely to center on essential goods, and retailers can focus on improving customer service as a...
5 ways retailers are innovating curbside pickup
As consumers maintain shopping behaviors they adopted during the pandemic, retailers with an eye to the future are not only perfecting the curbside pickup experience to continue meeting consumer demand — they’re adding new perks and capabilities to make the service even more convenient. Extended hours, exclusive deals and...