Incisiv and Wynshop have released the findings from its State of Digital Grocery Performance Card, including that grocers lost $11 billion due to “unavailable” or “unsubstituted” items.
The report is available for download on Grocery Doppio, an independent source of grocery insights and data designed to help grocers jumpstart, accelerate and sustain digital growth. Grocery Doppio brings together research-driven grocery content, fact-based observations and performance benchmarks that identify improvement opportunities for grocery retailers.
“The explosion of digital shopping during COVID forced grocery executives to execute digital strategies faster than they normally would have, often at the expense of profitability and operational effectiveness,” said Gaurav Pant, chief insights officer, Incisiv.
“While digital has been a growth driver for the industry, we are seeing growth decelerate and most grocers are losing money on their digital orders. Navigating these uncertain times requires true benchmarks of digital performance, and we plan to make that available to the industry through Grocery Doppio.”
The data is based on Incisiv’s analysis of more than 1 million shopper orders and survey results from 12,000 shoppers and 1,200 U.S. grocery executives.
Key findings include:
- Grocery sales continue to rise, even as digital sales decelerate
- Grocers are pushing for greater adoption of their sales channels and store pickup
- Digital basket sizes have shrunk as prices have risen
- Grocers struggle with inventory visibility and profitability
“We’re tremendously excited to partner with Incisiv to provide the grocery industry with one central source of the most current and relative data and industry perspectives. We believe this will help grocery executives make informed decisions on how to run their digital businesses successfully,” said Neil Moses, CEO of Wynshop.
“Staggering stats like $11 billion lost in digital sales in just six months motivate us to get information out to grocers even faster so they can avoid missing out on sales. We look forward to using Grocery Doppio as a tool to help the entire digital grocery industry move forward.”
Incisiv and Wynshop will host a webinar Aug. 11 highlighting the findings of the report. Register here for the webinar.