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Volume and Value of U.S. Grocery Sales Increasing

06/21/2024

According to a Mercatus Grocery Shopper Survey conducted on March 29th-30th grocery sales have recovered from the 2020 COVID period.  Although grocery sales in March 2024 were similar to 2023, total value attained $8 billion. March 2024 sales were 23 percent above March 2020.

 

In segmenting sales, the pickup and delivery share was higher in March 2024 accounting for approximately 43 percent of online grocery ordering this year.  Growth was at the expense of delivery falling to 39 percent in March 2024.

 

Online sales peaked during the COVID years, but it is apparent that 55 percent of consumers used pickup in March 2024 when ordering online.  Growth of the segment was at the expense of home delivery. 

 

In commenting on the survey, Mike Fairhurst Global Chief Growth Officer at Mercatus stated, “For today’s grocers keeping online customers engaged is more important than ever as growth is now more likely derived from increase order frequency or the value of each order.”