According to statistics by Steve Bishop of Briar Meets Click, online grocery sales are expected to rise to US$27 billion by the end of this year, tripling by 2023 to somewhere between $80 billion and $123 billion.
Bishop recently gave a presentation during The Food Institute’s “Get In On the Growth of Online Shopping” webinar, noting that online grocery sales currently make up four per cent of market-level spending, but are expected to rise to between 11 per cent and 17 per cent over the next decade, according to a report from Grocery Business. Honest Green co-president PJ Strafford supported the sentiment, noting that Amazon serves 62 million grocery shoppers per month.
“Will the in-store lost sales be recaptured and offset by your online channel or lost to the competition? It’s a good time to step up your online game,” says Bishop.
