Walmart dominates Richmond's grocery wars
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Walmart is the most popular grocery chain in the Richmond area, with 23.3% of the market share as of last year, according to sales-tracking firm Chain Store Guide.
- Kroger and Food Lion are the second-and third-most-popular grocers, with 18.1% and 14.2% of the local market share, respectively.
Of note: Walmart has been Richmonders' favorite since at least 2019, and nearly every grocery chain in the Richmond area lost some market share over last year's report, except Walmart and Lidl.
- Walmart saw a slight gain year over year, and German-based Lidl nearly doubled its share last year.
The big picture: While national grocery behemoths such as Walmart are typically among the most popular grocers — if not the most popular — in any given city, local and regional favorites can give the big box stores a run for their money.
By the numbers: The amount Americans spend on groceries is getting crushed by the amount we spend dining out in the post-pandemic era.
- "People spent 20.7% more at restaurants than they spent on groceries in 2022 — and that figure rose to 29.5% in the first two months of the year, according to Commerce Department data compiled by JLL," Axios' Nathan Bomey writes.
What's next: Amazon — which acquired Whole Foods in 2017 for $13.4 billion — is looking to dramatically expand the grocery wing of its commerce empire, Axios' Richard Collings and Kimberly Chin write.
- "We need a broader physical store footprint given that most of the grocery shopping still happens in physical venues," Amazon CEO Andy Jassy recently wrote in a letter to shareholders.