Total orders rose 17% year over year in Q2 2025, according to Instacart parent Maplebear.
CEO Fidji Simo said the company is seeing “a meaningful shift in consumer behavior,” as order volume increased on weekdays and earlier in the day. “That’s very encouraging in terms of the utility we’re providing,” she told analysts on the earnings call.
Price visibility and offer targeting are central to that shift. Instacart now rewards retailers that align in-store and online prices, and shoppers increasingly engage with in-app promotion badges and loyalty integrations.
“Consumers want to feel confident they’re getting good value,” Simo said. “And we’re helping our retail partners deliver that.”
The company is also redesigning how brands engage with shoppers. Instead of isolated item ads, brands can now present unified storefronts across categories and retailers. These storefronts aim to boost discovery, giving consumers more context across SKUs while letting brands shape decision-making at checkout.
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Artificial intelligence (AI) plays a supporting role in this strategy. Instacart’s ranking engine personalizes search results based on preferences, purchase history and real-time pricing. AI also informs substitution logic and powers automated creative tools for promotions. Over 600 brands and agencies now use Instacart’s ads application programming interface (API).
These moves target a shopper base that remains highly price-sensitive. While Simo avoided describing it as trading down, she said consumer expectations for affordability continue to rise — especially in grocery and pharmacy. Instacart’s merchandising approach now leans more heavily into curated value-based offers and broader category coverage.
The approach appears to be resonating. Gross transaction value rose 11% to $9.08 billion. Revenue climbed to $914 million, while adjusted EBITDA surged 69% to $215 million. Adjusted earnings reached $0.41 per share, beating Wall Street expectations.
Instacart raised Q3 revenue guidance and reaffirmed profitability targets, but a leadership handoff looms. Simo will step down in August, with Chief Business Officer Chris Rogers named CEO. The next phase of growth will likely depend on how well Instacart continues to connect pricing, discovery and personalization for a digitally native shopper base.
