Below is a brief excerpt from a complimentary research note written by our Consumer Staples analysts Howard Penney and Daniel Biolsi. If you are an institutional investor interested in accessing our research email firstname.lastname@example.org
Online grocery sales grew 9% sequentially in June, according to a survey from Brick Meets Click/Mercatus. The number of orders continued to grow as grocers allocated more capacity for online shopping, as seen in the table below.
The frequency of orders continued to grow as the number of active customers continued to increase. Online grocery has accelerated several years of gains in months during the pandemic.
The share gains have not come at the expense of the grocery chains, as we detailed in part 2 of our grocery in a pandemic black book last week.
In the last week of our grocery survey, 50% of respondents reported their spending on groceries was the same as the previous week, as seen in the following chart. This is two percentage points less than our last survey two weeks earlier.
The percentage of respondents that said they were spending less than the last week was 10%, while the percentage saying they were spending more was 11%.