![]() ![]() Notably, the company remains committed to enrich consumer experiences by providing convenient shopping techniques and effortless grocery deliveries. Strikingly, Walmart is making aggressive efforts to expand in the booming online grocery space, which has been a major contributor to e-commerce sales so far. Management remains encouraged about the improving trends in store transactions and the grocery market share. This omni-channel player is benefiting from higher demand across categories and strength in e-commerce. Walmart: This currently Zacks Rank #2 (Buy) company has been gaining from its efforts to boost customers’ shopping experience for sometime now. You can see the complete list of today’s Zacks #1 Rank stocks here. Remarkably, this presently Zacks Rank #1 (Strong Buy) stock has rallied 102.9% over the course of a year. An expected long-term earnings growth rate of 13.3% also demonstrates strength. The consensus mark for its current fiscal-year earnings has moved 36.6% north in the past 60 days. Markedly, Target has a trailing four-quarter earnings surprise of 62.1%, on average. Its Essentials and Food & Beverage category is performing well too. ![]() Management also informed that adult beverages will be available through pick-up and drive-up in more than 1,200 stores and for same-day delivery in excess of 600 stores across the country. The company also plans to increase the number of fresh, refrigerated and frozen food items under Drive Up and Order Pickup options, nationwide. Order Pickup rose 52% in the first quarter of fiscal 2021. Sales fulfilled by Shipt were up nearly 86% year over year while the same through Drive-Up surged 123%. Notably, same-day services (Order Pick Up, Drive Up and Shipt) soared above 90% during the first quarter of fiscal 2021. Target: This general merchandise retailer is making constant efforts to improvise shopping methods and techniques through miscellaneous channels, and these have been yielding results for a while now. We note that Samokat, Russia’s major grocery-delivery service by orders, looks to tap the booming U.S. Moreover, companies like Lyft LYFT and Uber Technologies UBER have been offering on-demand delivery services for essential items. Several companies also made strategic agreements including tie-ups with the online delivery platforms DoorDash DASH and Instacart. To cash in on the evolving trends, bigwigs like Amazon AMZN, Walmart WMT and Target TGT strongly emphasized on boosting their delivery capabilities with same-day deliveries to offer a seamless shopping experience. Markedly, the online grocery delivery market has been experiencing solid growth over time. ![]() ![]() In fact, players should come up with innovative and cost-efficient technology-driven options to lure customers and resonate well with their demand. Undeniably, retailers need to make investments to enhance their online platform and upgrade fulfillment center. No doubt, to make the most of this trend, retailers need to focus on meal kits for dinner and explore more breakfast options as well as concentrate on product packaging and increase product visibility on online platforms. Also, despite reopening the restaurants, most people may continue to choose eating at home, given rising health consciousness. Excitingly, customers will prefer online grocery shopping owing to its easy ordering method, contactless and attractive payment schemes, and a safe and convenient delivery system. Expedited delivery services like doorstep delivery, curbside pickup or buy online and pick up at store will play a key role in gaining a significant market share. More than a year now since the pandemic had hit the economy, we still believe that online grocery shopping is here to stay even after the risk of infection subsides. Hence, a dramatic shift in demand from in-store to online grocery purchase was seen. Last year, when the coronavirus had struck, people were compelled to alter their shopping patterns and remain confined to their residences. The COVID-19 pandemic made essential goods delivery services like grocery and medicine all the more vital amid social-distancing and home-isolation measures. ![]()
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