US Grocery Retailing: In-Store and Online Market Report 2023
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Stay ahead of the curve and future-proof your business with Mintel’s US Grocery Retailing: In-Store and Online Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest trends and consumer behaviours affecting your industry. Get a 360° view of the US grocery retail market including market size, share and forecasted growth for in-store and online to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
The grocery retail landscape has undergone a major change, driven by the pandemic and ongoing economic uncertainty. In-store remains the preferred channel, with 98% of US consumers shopping in-store at least some of the time, but online grocery is growing in popularity: 63% of consumers are shopping for groceries online more often than they were a year ago.
The pandemic rapidly accelerated grocery ecommerce and consumers are largely sticking with it. As a result, the future of grocery retail is omnichannel. While the store is still preferred, convenience is the primary driver pushing consumers toward more multichannel shopping routines. However the belief that better prices can be found in-store persists, and presents a challenge for online grocery. In an omnichannel environment, it will be essential that pricing is consistent across channels and that consumers have access to easily compare prices online like they would in-store.
Currently, grocery loyalty programs don’t always translate to true affinity with shoppers. Nearly a third of US consumers shop with their chosen retailer because they are members of a loyalty program, but this number falls to less than a quarter for younger consumers and parents. Retailers need to do more to find ways to make loyalty programs worth a consumer’s time. Unsurprisingly, most consumers are motivated by discounts on products, though other monetary forms of value, such as cashback rewards or discounts toward a future purchase, are rising in popularity.
To learn how to connect with your audience, purchase our full US Grocery Retailing Market Report 2023. Discover lucrative innovation opportunities to help your business grow during times of financial uncertainty.
This report, written by Brittany Steiger, a leading retail and ecommerce analyst, delivers in-depth commentary and analysis to highlight current trends in the US grocery retailing market and add expert context to the numbers.
The grocery landscape is still in the midst of an evolution after the pandemic accelerated ecommerce and omnichannel shopping routines. Currently, savings are top of mind amid inflationary pressures and consumers are adapting by shifting toward more budget-conscious behaviors. In the longer term, consumers will be eager for a shopping experience that checks all the boxes on convenience, budget and quality as they increasingly expect a seamless shopping experience across channels.
Brittany Steiger
Senior Analyst, Retail & eCommerce
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Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.