Prepared food sales have risen, with 63% of grocers noting an increase over the past six months, and 69% of them view their prepared food options as a competitive differentiator. The primary drivers of these purchases are convenience and cost.
In Q1 2024, grocery sales remained strong at $230 billion, with digital sales increasing to $31.4 billion and 72% of grocers reporting improved inventory performance compared to the same period last year. Larger retailers, in particular, have seen better inventory availability.
81% of grocers prioritize personalization for competitiveness, yet 92% of shoppers find their grocery shopping experience lacking in personalization compared to their overall digital experience.
Digital sales were ~$11 billion in October 2023. Third-party platform sales dipped below 16% for the second time this year. Average digital grocery baskets dipped in October 2023.