US food and grocery retail is estimated to exhibit a sturdy CAGR of 4.5% during the forecast period. High urbanization, growing overall economy, premiumization, and increasing disposable income have all contributed to the growth of the US food and grocery retail market.
During the COVID-19 pandemic, food retailers are one of few businesses able to remain open during shelter-in-place directives. However, various fatalities of grocery store employee due to COVID-19 have been reported in the country lead to store closures and increasing anxiety among grocery store workers. However, thousands of grocery store employees have continued to work, with many reporting long shifts and extra workloads to keep up with spiking demand.
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Social distancing has caused consumers to seek easier alternatives to entering stores, such as online shopping, click-and-collect and curbside pickups. Many consumers are turning to digital grocery shopping, a category which made up only around 5% of total grocery sales in 2019. Result of this, consumers of the US are increasingly making fewer grocery store trips while spending more online visit, as evidenced by an increase in basket sizes in during the pandemic. According to a survey conducted by LendingTree, consumers spent an average of $178 per trip over the first two weeks of March 2020. Millennials led the way with baskets averaging over $195, while baby boomers had the smallest average basket at $150.
Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product and Distribution Channel
- Regions Covered- US
- Competitive Landscape- Amazon.com Inc., Performance Food Group Co., Sysco Corp., The Kroger Co., US Foods, and Walmart Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in base year?
- Which segment will project fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from pre-COVID forecast
- Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Food and Grocery Retail Market Report Segment
By Product
- Packaged Foods
- Unpackaged Foods
- Beverage
- Other Household Products
By Distribution Channel
- Online
- Offline (Traditional Grocery Retailers)
A full report of US Food and Grocery Retail Market is available at: https://www.omrglobal.com/industry-reports/us-food-and-grocery-retail-market
