nearly tripled last quarter, while its essential food and beverage category grew about 30%.
Lipsman said he's more bullish about the online grocery segment because it's the least penetrated but fastest growing segment in e-commerce. According to a June report, Lipsman estimates the online food and beverage category to account for just 3.7% of total US retail this year, but to grow at a 58.5% clip to $41.5 billion in total sales. The biggest winners of this trend are likely going to be the big-name retailers, like Amazon, Walmart, and Target, Lipsman said.
"Existing grocers are most challenged because they haven't properly invested in everything that it takes to maintain their market share," he said.LoadingBy clicking ‘Sign up’, you agree to receive marketing emails from Business Insider as well as other partner offers and accept our
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