Today in food commerce, Ocado Retail’s revenue takes a downturn, and Getir sees its valuation grow to $11.8 billion. Plus, PYMNTS data reveal that restaurant purchasing is on the rise.
Ocado Retail Sees Sales Downtick as Consumers Return to Pre-COVID Habits
Consumer demand for digital convenience may be continuing to rise, but eGrocery channels are nonetheless far from a sure bet. Ocado Retail, the joint venture between Hatfield, United Kingdom-based grocery technology firm Ocado Group and London-based retailer Marks & Spencer, has been seeing its performance flag in recent months.
PYMNTS Intelligence: Meeting Younger Diners’ Preferences With Technology
This month’s PYMNTS Intelligence examines how millennial and Generation Z consumers’ preferences are shaping their interactions with both table-service restaurants and QSRs and how loyalty programs are affecting those preferences.
Report: U.S. Consumers Take Mobile Payments With Them as They Get Back to Restaurants and Travel
In the March 2022 U.S. Edition of Digital Economy Payments: Going Digital to Pay For Travel And Restaurant Dining, PYMNTS examines how consumers’ shopping and payment behaviors when purchasing groceries, food, retail products and travel services have evolved as the health crisis lessens, and what these trends foreshadow for the remainder of 2022.
Grocery Roundup: Getir Valuation Rises to $11.8B; Instacart Announces Shoppable Recipes
Funds continue to pour in for ultrafast grocery in spite of the economic challenges of the model. On Thursday (March 17), Turkish 10-minute grocery delivery company Getir announced that it raised $768 million in its Series E funding round, raising the startup’s valuation to $11.8 billion.
As grocers see inflation rise to its highest point yet this century, and as supply chain and labor issues pile on additional challenges, leaders in the space are doing everything in their power to change the conversation, turning focus away from these difficulties. On Thursday (March 17), two major grocery retailers, Amazon Fresh and Target, both announced new store formats that promise net zero emissions.
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