– Projected revenue growth of the sector, 2020 to 2025: 64.2%
– Global revenue forecast 2025: $791.6 billion
Grocery and personal care sales saw the strongest growth in 2020, and this trend is expected to remain fairly persistent.
In 2020, Walmart, Kroger, Tom Thumb and other grocery retailers doubled their online ordering, delivery and pickup offerings. The rapid change was mainly driven by health concerns amid the pandemic, but the transition to e-commerce had begun before COVID-19 arrived in the US
Snack food giant Frito-Lay launched a direct-to-consumer website in mid-2020. Hygiene items such as toilet paper and tampons were also in high demand in 2020 and were ordered online.
Personal care startups have already seen tremendous growth since 2020 while riding the direct-to-consumer wave. Thinx, which makes menstrual underwear, caught the attention of Kimberly-Clark, who acquired the company in February 2022. In the beauty space, Sephora has also focused on online sales, and it is Add to one day shipping in 2022.
Statista data projects that these goods will see the fastest growth over the next five years compared to all other segments, due in part to the ramp-up they’ve had during the pandemic lockdowns.
This story originally appeared on Wicked Reports and was produced and distributed in association with Stacker Studio.