In December 2019, e-commerce accounted for just under four percent of all U.S. grocery sales, according to McKinsey and Co. Today, thanks in
part to the COVID-19 pandemic, that percentage has increased to the low teens and is expected to reach 25 percent by 2030.1 Online purchases of
apparel, electronics, and other consumer packaged goods have increased as well. At the same time, inflation is rampant across the globe, curbing consumers’ purchasing power. Case in point: U.S. retail sales were down year-over-year in both November and December 2022.2 And retailers aren’t out of the woods when it comes to supply chain issues, as inventory levels continue to suffer.
