Americans spend more on food than anything else considering their household budget. Online grocery shopping is the third-ranked expense after housing and transportation.
An average American spends around $7,700 every year on groceries and food & beverages. According to the Bureau of Labour Statistics, Americans spend more on food than anything else considering their household budget. For the people living in rural and suburbans, the grocery was the third-ranked expense after housing & transportation. (Source: The Street).
Indeed the pattern doesn’t reflect that people choose grocery shopping in the USA in a lump sum. They buy them as their needs, and it is obviously expected.
Here are interesting facts and figures on how Americans are spending on food:
1. An interesting fact is that those who prefer to order groceries online also prefer shopping for groceries in offline shops as well.
2. The value of the American online grocery market has risen to more than twice from 2016 to 2018, precisely from 12% to 26%. Hence, we can say people are choosing online mediums to buy their household items. (Source: IBISWorld)
3. People prefer online grocery shopping, and by 2022, almost 10% of the total grocery shopping will be only online.
4. Surprisingly male shoppers are more than female shoppers when we are talking about online grocery shopping.
5. Women tend to prepare a list of the items they need more than men.
6. 57 percent of women tend to search for grocery coupons, but only 41% of the men who shop for groceries do so.)
7. Millennials are not so worried about their grocery spends because they prefer eating & dining out, although some will spend very little on groceries.
8. Average American aged between 35 to 44 spends around $14.05 daily on groceries.
The category ‘Online Grocery Shopping’ is expected to grow at an above-the-average rate in the next few years, and the growing demand for online grocery delivery service has opened many gates for small as well as medium-scale grocery stores.
As the behavior and consumption of Millenials are changing day by day, grocery stores need to stock for more trending as well as traditional foods and groceries to meet their demands. The pattern for online local grocery stores limits to the numbers, but the demand for fresh, organic, gluten-free, and keto-friendly foods is also increasing daily.
While eating and dining out is a trending thing, due to increased awareness about healthy living and diet practices, people are choosing to cook at home, and thus, this alarms grocery markets to stock up fresh and healthy foods to attract consumers.
We at MyValue365 study the trends and continuously take feedback from our valuable customers to stock the most demanded products and keep them happy forever.