Instacart yesterday released its first-ever Economic Report, looking to quantify “the company’s economic impact across all four sides of the Instacart marketplace — customers, shoppers, retailers, and brands.”
Some key points from the study:
• “Instacart has added over 231,000 brick-and-mortar grocery jobs and nearly $8 billion in incremental revenue for the U.S. grocery industry, generated more than $15 billion in earnings for Instacart shoppers, and saved customers more than 700 million total hours since the company was founded in 2012.
• “With its growing advertising business, Instacart has also helped more than 5,500 brand partners reach new customers and grow their businesses, driving an average of 15% incremental revenue lift for those companies, the report shows.”
• “More specifically, the 66,000 jobs Instacart has helped create at small grocery stores represents 29% of the total number of 231,000 jobs the company has generated across the entire grocery industry — more than double the small business share of all grocery employment in the United States (14%).”
KC’s View:
That’s a lot of marketing power being consolidated in one brand that represents a lot of competitors – the question that a number of them are asking is what their next iteration of e-grocery should look like, and whether they should be so beholden to one technological and marketing entity.
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