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Amazon & Blue Apron Help Ignite Online Grocery Industry
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Consumer analytics firm Nielsen just released its second-ever online food shopping study, which found that the industry Amazon (AMZN - Free Report) and meal-kit delivery companies such as Blue Apron helped popularize is set to grow into a $100 billion market soon.
On Monday, Nielsen, in partnership with the Food Marketing Institute, released its “Digitally Engaged Food Shopper” study. The joint venture found that within as few as five to seven years, 70% of all U.S. consumers are expected to buy at least a portion of their groceries online.
Previously, Nielsen and FMI projected it would take the U.S. online grocery business until 2025 to reach the $100 billion milestone. “The grocery industry is currently in the age of digital experimentation, where the roadmap on how to navigate and achieve real and profitable growth continues to evolve,” Nielsen executive Chris Morley said in a statement.
The Digitally Engaged Food Shopper study found that the online grocery industry is set to expand rapidly, but investors should know that it is already widely popular in the U.S. CNBC noted that 49% of all U.S. shoppers bought a packaged good online within the last three months.
Looking at the generational breakdown, 61% of Millennials purchased at least some type of grocery item online, while 44% of Baby Boomers also joined the new online shopping trend.
This growth hardly comes as a shock to many investors and certainly won’t surprise many retailers. In fact, over the last year, big-box giants Walmart (WMT - Free Report) and Target (TGT - Free Report) have attempted to bolster their online grocery businesses in order to better compete with Amazon.
Looking ahead, grocery companies such as Kroger (KR - Free Report) and Costco (COST - Free Report) will likely invest more money in online ordering technologies and infrastructure.
On top of investments from industry giants, grocery delivery startups such as Instacart have become popular in cities around the country. Now, as Instacart partners with everyone from Petco to CVS (CVS - Free Report) , investors might see more shake-ups and mergers akin to Amazon’s Whole Foods purchase sooner than later.
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Amazon & Blue Apron Help Ignite Online Grocery Industry
Consumer analytics firm Nielsen just released its second-ever online food shopping study, which found that the industry Amazon (AMZN - Free Report) and meal-kit delivery companies such as Blue Apron helped popularize is set to grow into a $100 billion market soon.
On Monday, Nielsen, in partnership with the Food Marketing Institute, released its “Digitally Engaged Food Shopper” study. The joint venture found that within as few as five to seven years, 70% of all U.S. consumers are expected to buy at least a portion of their groceries online.
Previously, Nielsen and FMI projected it would take the U.S. online grocery business until 2025 to reach the $100 billion milestone. “The grocery industry is currently in the age of digital experimentation, where the roadmap on how to navigate and achieve real and profitable growth continues to evolve,” Nielsen executive Chris Morley said in a statement.
The Digitally Engaged Food Shopper study found that the online grocery industry is set to expand rapidly, but investors should know that it is already widely popular in the U.S. CNBC noted that 49% of all U.S. shoppers bought a packaged good online within the last three months.
Looking at the generational breakdown, 61% of Millennials purchased at least some type of grocery item online, while 44% of Baby Boomers also joined the new online shopping trend.
This growth hardly comes as a shock to many investors and certainly won’t surprise many retailers. In fact, over the last year, big-box giants Walmart (WMT - Free Report) and Target (TGT - Free Report) have attempted to bolster their online grocery businesses in order to better compete with Amazon.
Looking ahead, grocery companies such as Kroger (KR - Free Report) and Costco (COST - Free Report) will likely invest more money in online ordering technologies and infrastructure.
On top of investments from industry giants, grocery delivery startups such as Instacart have become popular in cities around the country. Now, as Instacart partners with everyone from Petco to CVS (CVS - Free Report) , investors might see more shake-ups and mergers akin to Amazon’s Whole Foods purchase sooner than later.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>