Report: 70% of consumers will grocery shop online by 2024
Key findings from this year’s study show that omni-channel shopping has passed the tipping point with online grocery shopping on an accelerated path to industry saturation.
Food Marketing Institute (FMI), Arlington, Va., and Nielsen, Chicago, released its second-year findings of its “Digitally Engaged Food Shopper” study. Building on the joint research findings issued in 2017, this second set of insights examines what food and beverage manufacturers and brick-and-mortar retailers need to do to ready themselves for the rising digital grocery landscape, identifying six digital imperatives for omni-channel success. The research indicates that in as few as 5-7 years, 70% of consumers will be grocery shopping online. Now, the estimated $100 billion spend, which is equivalent to every U.S. household spending $850 online for food and beverage annually, will occur by 2022 or 2024
Key findings from this year’s study show that omni-channel shopping has passed the tipping point with online grocery shopping on an accelerated path to industry saturation. The first year of research predicted that consumer online food and beverage spend could reach $100 billion by 2025. The FMI and Nielsen report reveals that the pace of change and adoption has far outrun initial predictions, where the pervasiveness of online engagement could cut the timeline by as much as half.