Digital Grocery Reaches 13% of $690B Grocery Market in 2024 Amid Modest Growth
“Smaller grocers can stand on their own against their larger rivals by investing in technology.”— Charles Kaplan, CPO, Wynshop
FORT LAUDERDALE, FL, UNITED STATES, October 16, 2024 / EINPresswire.com / — Incisiv, a next-generation industry insights firm that helps retailers and brands navigate digital disruption, and Wynshop, the leading provider of digital commerce and fulfillment solutions for local store-based retailers, today revealed the findings from Grocery Doppio’s State of Digital Grocery Performance Scorecard for Q3, 2024.
Highlights of the report include:
YTD overall grocery sales were up
— Total grocery sales for Q3, 2024 were $232 billion
— That added to a total of $691 billion for the year to date, up 2% over YTD at this time last year
Digital promotion activity and sales both rose in Q3, 2024
— $30.2 billion (13.2%) of all grocery sales in Q3, 2024 were purchased through digital channels
— That represents a 3.07% uptick over Q2, 2024, when digital claimed 12.8% of all grocery sales
— 63% of grocers report that they increased their digital promotions and communications in Q3, 2024
Third-party sales made a modest comeback:
— Third-party sales rose in Q3 for the first time in nine quarters to 14.2% in Q3, up from 13.9% in Q2, 2024
— Instacart owned the lion’s share of that revival, gaining 2.3% market share in the quarter
— Third-party sales remain down overall however, dropping from 16.3% in Q3, 2023, and from 29.9% in Q1, 2021.
“Grocers over $10 billion in annual sales are increasing their market share in terms of share of sales owned by digital and overall sales volume. Walmart has been the standout performer.,” said Gaurav Pant, Chief Insights Officer of both Incisiv and Grocery Doppio. “More than 14% of large grocers’ total sales are now owned by digital channels.”
“Smaller grocers can stand on their own against their larger rivals by investing in technology,” added Charlie Kaplan, Chief Product and Marketing Officer at Wynshop. “Effective digital promotions, merchandising and engagement drive sales both online and offline, with 71% of total grocery market sales influenced by digital.”
Grocery Doppio’s State of Digital Grocery Performance Scorecard for Q3, 2024 is based on a cumulative analysis of 2.9 million shopper orders and surveys of 53,296 shoppers and 5,218 grocery executives spanning technology, e-commerce, supply chain, marketing, in-store, and senior leadership roles, between January 1, 2021 to September 30, 2024. It covers up-to-the moment trends on digital grocery shopping, and compares sales performance of local and national chains from year to year.
The report is one of many resources available on Grocery Doppio, a free, independent source of grocery insights and data designed to help grocers jumpstart, accelerate, and sustain digital growth. Grocery Doppio brings together research-driven grocery content, fact-based observations, and industry expert perspectives, to help identify improvement opportunities for grocery retailers.
Incisiv and Wynshop will host a webinar to review the findings of Grocery Doppio’s “State of Digital Grocery Performance Scorecard for Q3, 2024 on Thursday, October 24, 2024 at 12PM ET. Register here to attend.
Laurel Getz
Wynshop Inc
+1 203-767-5963
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