Kroger hopes to double its digital sales by the end of 2023, according to a virtual investors conference, reports CNBC. CEO Rodney McMullen said that the grocer plans to attract customers with fresh foods, grow its ad business to drive an alternate stream of revenue, and fulfill online grocery orders more efficiently with the help of logistics technology company Ocado.
“It’s true that the shift to spending more time at home and eating less at restaurants was a tailwind for our industry and that we will face tough comps as a result, but we also believe that those who are able to convert on this short-term boost into long-term competitive advantages will emerge as winners and that’s exactly what we’ve been doing,” McMullen said. “As society has leapt into a new digital era, so has Kroger.”
Kroger’s digital sales have grown 116 percent in the most recent fiscal year to over $10 billion. Full Story
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Image: The Kroger Co.