According to the Brick Meets Click/Mercatus Grocery Shopping Survey, the U.S. online grocery market leapt 1.3% in October accounting for a total of $8.1 billion in sales from $8 billion in September.Moreover, nearly 50% of the overall U.S. families, which is 63.8 million, shopped groceries online in October. A monthly typical user put an average of 2.74 orders the previous month, which is 35% more than the pre-pandemic levels and just 6% lower than the record high obtained in May 2020, when the pandemic was at its peak.This shows the growing reliance on e-commerce for buying groceries. According to research study firm Acostas “Growth of Online Grocery Shopping Shows No Signs of Slowing Down” report, 31% of Americans plan to increase shopping for their groceries and food online. The Zacks Consensus Estimate for current-year profits for STKL has enhanced 25% over the past 60 days. TGT has been investing in innovations, enhancing websites and mobile apps, and updating the supply chain to keep rate with the altering retail landscape and much better compete with pure e-commerce players.The business reported third-quarter fiscal 2021 incomes of adjusted incomes of $3.03 per share, beating the Zacks Consensus Estimate of $2.87 and increasing 8.7% from the year-ago period.
The coronavirus pandemic is far from over. Just when individuals were feeling great after vaccination and stepping out of their homes or preparing vacations, the Omicron variation of the coronavirus raised fresh fears.On the one hand, the holiday season has brought a smile on sellers faces with individuals going back to brick-and-mortar stores. On the other hand, the World Health Organization (WHO) has warned of the intensity of the Omicron variant. This may as soon as again send people inside your home with stocks of important goods.Groceries are among the vital items and purchasing grocery stocks like Target Corporation (TGT Quick QuoteTGT – Free Report), Caseys General Stores, Inc. (CASY Quick QuoteCASY – Free Report), United Natural Foods (UNFI Quick QuoteUNFI – Free Report) and SunOpta, Inc. (STKL Quick QuoteSTKL – Free Report) would be a wise decision.Fresh COVID-19 ScareLast week, the WHO alerted of a new COVID-19 alternative Omicron that was initially identified in South Africa however is believed to have come from Botswana. The variation has and has brand-new symptoms raised fresh fears of cases surging. Lots of nations, including the United States, have actually provided a travel restriction from South Africa and seven other African countries due to fears of the fast-mutating virus.On Monday, the WHO alerted that the brand-new Omicron variant positions a “extremely high” danger to the global pandemic recovery and may have serious effects with a brand-new wave of infections. “Omicron has an extraordinary variety of mutations, some of which are worrying for their prospective influence on the trajectory of the pandemic,” the WHO stated on Monday, according to a report in the Daily Mail.The news comes simply at a time when people had actually begun feeling great after their jab and the economy started reopening.E-Commerce Driving Grocery SalesThe first wave of the pandemic in March-April 2020 saw millions stockpiling on important items. E-commerce was a major hero as millions shopped groceries and other vital items online. This, in such a way, conserved the retail sector from an overall collapse.Since then, an increasing number of Americans have actually been shopping online, especially groceries. E-commerce has actually been majorly driving the overall grocery sales. According to the Brick Meets Click/Mercatus Grocery Shopping Survey, the U.S. online grocery market leapt 1.3% in October accounting for a total of $8.1 billion in sales from $8 billion in September.Moreover, practically 50% of the overall U.S. households, which is 63.8 million, shopped groceries online in October. A monthly average user put an average of 2.74 orders the previous month, which is 35% more than the pre-pandemic levels and just 6% lower than the record high obtained in May 2020, when the pandemic was at its peak.This reveals the growing reliance on e-commerce for buying groceries. According to research company Acostas “Growth of Online Grocery Shopping Shows No Signs of Slowing Down” report, 31% of Americans plan to increase searching for their groceries and food online. Likewise, professionals believe that e-commerce will continue to dominate this area as grocery gamers are quick shifting focus to online business.Our ChoicesThis is therefore an appropriate time to invest in grocery stocks with a strong online existence as they should result in solid returns going forward. We have actually selected 4 such stocks, each currently bring either a Zacks Rank # 1 (Strong Buy) or 2 (Buy). You can see the total list of todays Zacks # 1 Rank stocks here.Caseys General Stores, Inc. provides a range of food selections (including newly ready foods such as pizza, donuts and sandwiches), drinks, tobacco and nicotine items, health and beauty help, school materials, houseware, and animal supplies.CASY operates 2 shops under the name “Tobacco City,” selling primarily tobacco and nicotine products, one alcohol shop, and one grocery store. Caseys likewise uses a range of food selection (consisting of newly prepared foods such as pizza, donuts and sandwiches), beverages, tobacco and nicotine products, health and appeal help, school materials, housewares and animal supplies.Caseys expected incomes development rate for the present year is 3.6%. The Zacks Consensus Estimate for current-year revenues has actually enhanced 1.8% over the past 60 days. Shares of CASY have actually acquired 4.9% in the previous 30 days. Caseys General Stores has a Zacks Rank # 2. SunOpta, Inc. is an operator of high-growth ethical businesses, concentrating on integrated organization models in the natural and natural food, supplements and health and beauty markets. STKL has three company systems: the SunOpta Food Group, which focuses on sourcing, processing and distribution of natural and organic food products integrated from seed through packaged items; the Opta Minerals Group, a manufacturer, distributor, and recycler of eco-friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing markets. SunOptas expected revenues growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year profits for STKL has enhanced 25% over the past 60 days. SunOpta has a Zacks Rank # 2. Target Corporation has developed from being a pure brick & & mortar retailer to an omni-channel entity. TGT has been buying technologies, improving sites and mobile apps, and updating the supply chain to keep rate with the altering retail landscape and much better take on pure e-commerce players.The business reported third-quarter financial 2021 profits of adjusted earnings of $3.03 per share, beating the Zacks Consensus Estimate of $2.87 and increasing 8.7% from the year-ago period. TGTs total revenues for the quarter can be found in at $25,652 million, increasing 13.3% year over year and exceeding the Zacks Consensus Estimate of $24,906 million. Target Corporations anticipated profits development rate for the present year is 39.6%. The Zacks Consensus Estimate for current-year profits has actually enhanced 2.8% over the previous 60 days. Shares of TGT have actually advanced 10.5% in the previous six months. Target carries a Zacks Rank # 2. United Natural Foods is the leading supplier of natural, natural and specialized food and non-food products in the United States and Canada. UNFI brings more than 1,10,000 premium natural, natural and specialized products, consisting of national, private and local label brand names in 6 item classifications. From an operating viewpoint, United Natural Foods has two primary departments– the wholesale in addition to the production and top quality products unit.United Natural Foodsexpected revenues growth rate for the existing year is more than 5.2%. The Zacks Consensus Estimate for UNFIs current-year profits has actually improved 29.5% over the previous 60 days. Shares of UNFI have acquired 17.1% in the past 30 days. United Natural Foods has a Zacks Rank # 2.