In this new video, L2 founder Scott Galloway discusses how grocery shopping will change in the next five years. Galloway said online grocery shopping has taken longer than expected to catch on, but is hitting an inflection point. Forty million people are estimated to shop for groceries online for the first time in 2014, and those first baskets will impact the grocery ecosystem. (After the initial online grocery order, consumers are likely to buy 25% of future purchases from the internet.) For brands, that means their success will depend on how well they can integrate with existing online retailers, which requires a different skill set than working with brick-and-mortar grocery chains to promote discounts and acquire signage.
For more on how food brands can keep up with consumers’ changing habits, see our Digital IQ Index: Food.