Covid 19 outbreak has resulted in online grocery market growth. The grocery market in the United States is predicted to generate 95.8 billion U.S. dollars in 2020, with sales predicted to increase by 187.7 billion U.S. dollars by the end of 2024. Among the leading on-demand food and beverage retailers in 2016 were Walmart and Amazon.
Looking at the growing market and changing customers’ purchasing habits, brands are changing their operational ways to cater to the requirements of a growing market. And in a bid to keep COVID 19 at bay, customers are still heavily on eCommerce, resulting in the growth of online grocery sales. And looking at the growing market, it is a profitable decision to invest in grocery stocks.
Which Grocery Market Stocks to Consider for Investment
Undoubtedly the vaccination is in full swing, and people are confident. Growth in online purchases represents a sudden jump in online grocery shopping and the market. Hence many brands are investing in the ultimate delivery solution that helps them meet the demand of customers.
It’s estimated that online grocery purchases accounted for 21.5% or $250 billion of the total $1.16 trillion grocery market. Looking at the situation, investing in grocery stocks with a significant online presence is the best option ever.
Costco Wholesale Corporation
It’s an American multinational corporation that operates a chain of membership big-box retail stores. Costco is one of the largest warehouse clubs in the U.S. and successfully provides its service in Canada, Mexico, Japan, etc., through its eCommerce website.
J & J Snack Foods Corp
JJSF is an American marketer, manufacturer, and distributor of branded niche foods and frozen beverages for the retail supermarket and food sector. The company has achieved great success hence its profitable option to invest in its company’s stock.
Conclusion
There are many other online grocery market stocks that you can consider, primarily when investing in its stock. This includes,
- SunOpta, Inc
- Celsius Holdings Inc
And many more. Just make sure to research the market before investing in stocks of any grocery or other business. Taking extra care can help you eliminate further losses and earn extra money in no time.