Instacart Boasts 14% Growth in Orders

By Tamara Parker • Monday, November 10 11:37 • Permanent Link

Instacart CEO, Chris Rogers, has released the third-quarter results, highlighting the company's strong performance with a 14% year-over-year growth in orders, a 10% increase in Gross Transaction Value (GTV), and expanded net income and adjusted EBITDA.

The company's focus on accelerating online grocery adoption is evident in its efforts to deepen customer and retailer relationships, expand its ads ecosystem, and launch innovative AI-powered tools. Instacart is also working on making groceries more affordable by offering same prices online and in-store, resulting in over 10% average growth for retailers and better customer retention.

Furthermore, Instacart's enterprise solutions, including storefront technologies, fulfillment services, and advertising capabilities, are empowering retailers to compete and grow both online and in-store. The company's storefront technologies now power more than 350 grocers' e-commerce sites, with recent launches and partnerships indicating a promising international expansion.

Instacart's ads ecosystem has also seen significant growth, extending its reach across online, off-platform, and in-store channels for over 7,500 brand partners. The company's AI-driven tools are enhancing ad relevance, driving stronger engagement, and providing more accurate measurement across the ads ecosystem.

In terms of partnerships, Instacart has collaborated with various companies to offer new benefits to customers, such as partnering with Grubhub to offer groceries powered by Instacart directly within the Grubhub and Seamless platforms. The company has also extended its partnership with United Airlines to offer new benefits to United MileagePlus members, marking a first for an airline.

Instacart's commitment to delivering an exceptional customer experience is evident through streamlined family account invites, automatic loyalty sharing, and various partnerships aimed at driving more customers and orders to the platform. The company's continued momentum with e-commerce solutions, in-store technologies, and deepening integration with retail partners further underscores its dedication to enhancing the customer experience.

The market has reacted to these announcements by moving the company's shares 5.06% to a price of $36.75. For more information, read the company's full 8-K submission here.

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