Demand for grocery delivery cools as food costs rise

August 08, 2022 00:20 UTC

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Demand for grocery delivery cools as food costs rise

U.S. demand for grocery delivery is cooling as prices for food and other necessities rise. In August 2019 — a typical pre-pandemic month — Americans spent $500 million on grocery delivery. Hyper-fast grocery delivery companies like Jokr and Buyk expanded into U.S. cities. In June 2022, Americans spent $2.5 billion on grocery delivery — down 26% from 2020. Instacart — the U.S. market leader in grocery delivery — slashed its own valuation by 40% to $24 billion in March ahead of a potential IPO.

Source: New York Times August 08, 2022 00:20 UTC

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