$20 Billion Could Be Up for Grabs in Online Grocery Sales
Online grocery is booming as people look for ways to practice social distancing and avoid long waits at the grocery store. Sales volume tripled year over year in March, according to two separate reports from Rakuten Intelligence and NetElixir. NetElixir expects sales to increase 2.5 times year over year in April as the U.S. continues to stay at home.
Importantly, online grocery shoppers could become habituated, leading to a permanent increase in online grocery shopping. Even if e-commerce penetration of grocery retail improves by 2 percentage points this year, that's $20 billion in revenue up for grabs, as eMarketer points out. While eMarketer hasn't updated its forecast for online grocery sales, a $20 billion increase is not out of the question.
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Source Fool.com
