The State of Food and Beverage Retail Ecommerce Sales
What is the current state of food and beverage in terms of retail ecommerce sales growth? According to a recent report by eMarketer, there has been an acceleration in its popularity. This can be explained by the coronavirus (COVID-19) pandemic, which called for consumers to practice safe social distancing measures when making daily purchases.
In a May 2020 report, it was noted that food and beverage ecommerce sales growth reached 58.5%. This accounted for a major share when compared to other retail ecommerce product categories. For health, personal care, and beauty products, it was at 32.4%, while items that pertained to toys and hobbies were at 20.9%. Closely following behind that were computer and consumer electronics, as well as office supplies and equipment, which were both tied at 17.9%.
Of course, the books, music, and video category should also be considered by businesses due to the increased use of it for individuals staying at home during the pandemic. The category reached 13.9%, while automotive parts, home furnishings, and apparel were at 12.6%, 12.4%, and 8.6% respectively.
Despite these nonetheless important categories, business owners who run grocery stores remain in the lead. In addition to social distancing procedures, the pandemic resulted in a time where first-time online grocery buyers ventured out into the digital market. Meanwhile, individuals who already bought their groceries online increased their orders.
According to eMarketer, the expected number of these online shoppers would increase to 41.9% in 2020 to 131.0 million. This would also mean an increase in online user penetration to 52.9%, which would be significantly greater than the 37.8% achieved in 2019.
The report then cited ecommerce businesses such as Amazon and Instacart as “the biggest beneficiaries of the rapid shift to online grocery buying for delivery.” Andrew Lipsman, who is the eMarketer principal analyst at Insider Intelligence, also noted that Costco, Walmart, and Target are also key players when it comes to grocery shopping and delivery services.
As businesses around the world continue to adapt to the changes brought on by the pandemic, it is important to update their strategies in order to ensure viable streams of revenue. To get started, businesses may contact the Find Your Audience team at either 647-479-0688 or email@example.com for more information and a thorough consultation.