Incisiv, a next-generation industry insights firm that helps retailers and brands navigate digital disruption, and Wynshop, the leading provider of digital commerce and fulfillment solutions for local store-based retailers, today revealed the findings from Grocery Doppio’s December 2023 Digital Grocery Performance Scorecard.
Grocery finished the year strong in December, with a 12.6% jump in overall sales, and 9% in digital sales, as compared with November. This left grocers ‘mildly optimistic’ about business opportunities in 2024, with 57% reporting that they expect a better year in 2024 than they had in 2023. Here’s how they ranked their top business opportunities for 2024:
- launching/growing retail media: 81%
- scaling personalization: 76%
- increasing profitability: 64%
- improving price/promotion: 64%
For grocery shoppers, on the other hand, cost control and wellness are the biggest influencing factors to their immediate priorities. 83% of shoppers said they are focused on savings, discounts and promotions at this time, and 69% said they prefer easy-to-understand deals like “$2 off” and “2-for-the-price-of-1” rather than % discounts. Meanwhile, 67% plan to shop healthier foods in 2024, 23% intend to buy more organic produce, and 64% desire to dine together as a family more frequently.
The December 2023 performance scorecard is based on aggregated data from 2.3 million US shopper orders, plus polling of 42,267 grocery shoppers and 4,081 grocery executives between January 1, 2022 and December 31, 2023.
More key findings from Grocery Doppio’s “December 2023 Digital Grocery Performance Scorecard” include:
- 74% of grocers expect to discount/promote the same amount or more in 2024 than they did in 2023.
- 86% of shoppers plan to buy both in-store and digitally in 2024.
- Grocery pickup increased by 3.4% in December, compared with November 2023. And 17% of shoppers will increase their use of pick-up services in 2024.
“Inflation has not abated, and shoppers remain focused on price going into 2024,” said Gaurav Pant, Chief Insights Officer of both Incisiv and Grocery Doppio. “As basket sizes and average price/item continue to grow from month to month, the pressure is on grocers to come up with the attractive promotions and discounts that shoppers desire.”
“Shoppers are looking for healthy options, cost saving opportunities, and satisfaction of other individual interests,” added Charlie Kaplan, Chief Revenue Officer at Wynshop. “To maintain customer loyalty and improve profitability in 2024, grocers need the ability to generate highly accurate and scalable personalized search results and recommendations in their digital channels.”
The December 2023 Digital Grocery Performance Scorecard is one of many resources available on Grocery Doppio. Grocery Doppio is a free, independent source of grocery insights and data designed to help grocers jumpstart, accelerate, and sustain digital growth. Grocery Doppio brings together research-driven grocery content, fact-based observations, and industry expert perspectives, to deliver a monthly performance scorecard that identifies improvement opportunities for grocery retailers. To download Grocery Doppio’s “December 2023 Digital Grocery Performance Scorecard,” click here.
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