More Online Grocery Shopping Inspires Investors to Look Closely at the Sector

Melissa Repko reported recently at CNBC Online that, “FreshDirect co-founder and former CEO Jason Ackerman said customers’ growing interest in online grocery shopping during the coronavirus pandemic has whet venture capital firms’ appetites.

“In an interview with CNBC’s ‘Squawk Alley,’ he said the surge of online grocery shopping has inspired more investors to look closely at the sector.

“‘I’m seeing more deals in online grocery … than I’ve ever seen before,’ he said.”

The CNBC update added that, “In the U.S., customers have been slow to adopt online grocery shopping. Only 3% or 4% of grocery spending in the U.S. was online before the coronavirus outbreak.

“During the pandemic, however, online grocery shopping has quickly gained popularity as people look for ways to avoid the grocery store. Grocers and delivery services, such as Instacart and FreshDirect, have struggled to ramp up to meet that sudden increase in demand.”

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