eMarketer sees an "astronomical growth" this year in online grocery sales

eMarketer this month predicted that online grocery sales in the US will grow by nearly 53% in 2020, reaching $89.22 billion in sales, an increase of $30.86 billion from a year prior.

The growth will slow down to 5% next year, but still, the retailers can expect growth. And by 2023, online grocery sales will reach $129.72 billion in the US, accounting for nearly 10% of total grocery sales.

According to eMarketer, there were 131 million digital grocery buyers in the US this year.

“We’ve got growth coming from new customers and growth coming from existing buyers who are either spending more frequently or more per trip. When you add these two factors together, what you get is astronomical growth,” said Cindy Liu, eMarketer senior forecasting analyst at Insider Intelligence.