Kroger sales surge 30 percent in March during coronavirus stockpiling

Credit: DaytonDailyNews

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Credit: DaytonDailyNews

Kroger announced today that shopper stockpiling throughout much of March drove caused sales to sharply accelerate to the tune of approximately 30 percent, excluding fuel.

“This was driven by dramatically heightened demand in the middle of the month as customers were stockpiling, which then tapered, but remained higher than normal in the final week, as customers adjusted to the new dining, work and travel restrictions,” the company said in a release today. “The demand has been broad based across grocery and fresh departments.

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The Cincinnati-based supermarket operator, the nation’s largest, said sales were already strong in February as shoppers started stocking up. The COVID-19 pandemic “triggered a significantly greater lift in sales across both physical retail stores and digital channels in March,” a surger that tapered but remained higher than normal in the final week, as customers adjusted to the new dining, work and travel restrictions.

Kroger said demand has been broad based across grocery and fresh departments, but it is too early to speculate what will emerge as the “new normal” in food consumption at home or what the impact on sales will be in future periods.

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