Online Grocery Baskets Shrinking
Online grocery buyers are spending more but buying less. According to the Grocery Doppio Performance Report, digital sales improved in the third quarter of 2022, albeit lower than 2021 levels. The report released this week shows 13.7% of all grocery sales in 2022 are digital, worth $87 billion. There was a 14.4% increase in digital sales in the third quarter of 2022 compared to the second quarter of the year.
However, inflation is impacting what buyers are purchasing.
The report shows shoppers' basket size declined by 5-6 items in the third quarter. Shoppers are faced with a 21% increase in price per item in 2022, and 73% of shoppers have moved to lower-priced brands in response to the increased prices. Meanwhile, grocery retailers face $2 billion in lost sales due to canceled online orders this year, and a $7.5 billion loss for items not in stock.
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