Furthermore, data indicate that during the beginning of the pandemic the rapid increase in food sales was the result of stockpiling as increasing numbers of Americans began feeling uncertain about the future.
Kroger’s continued profits are indicative of the fact that COVID-19 still plays a large role in the daily life of the public. While sales continue to surge for the company, its growth has lessened in recent months as health officials begin to get a grip on the pandemic and presumably, sales will eventually decrease as restaurants, bars and other entertainment venues begin to re-open. Until then, grocery stores and food-makers will most likely see robust profits.
Kroger Chief Executive Rodney McMullen echoed these findings in a recent statement, “We see a structural shift from food consumed away from home to food consumed at home.”
McMullen further added that increasing numbers of people have used COVID-19 to learn more about cooking at home, leading to a greater number of shoppers utilizing grocery stores on a more regular basis.
