According to a monthly consumer survey conducted by Cowen Research, Amazon is making some headway in the grocery game and eating up share on both Walmart and Target.
All in, Amazon showed 18 percent sales growth year-over-year, while both Walmart and Target saw their sales figures slip in the last 12 months.
Amazon’s expansion has pushed its real-world grocery counterparts to significantly raise the level of their digital retail and omnichannel games. For Target that has meant a push into curbside, reimagined store interior, a redesigned and expanded mobile app, and a variety of experiments with in-store beacons aimed an enhancing the typical consumer experience.
Target is also reportedly experimenting with a new produce pricing model that will allow consumers to purchase goods by freshness instead of weight.
Walmart has also seen a recent expansion into order-online, pickup in-store and also expanding its mobile payments option – the inventively named Walmart Pay – to its entire line by the end of the year.
Will it be enough to hold off the Amazonian hordes? Amazon’s current growth rate suggests that the challenges there may be pretty myriad.
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