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Illustration: Sarah Grillo/Axios Visuals

Online grocery was a minuscule part of food retail before the pandemic. Now, about 60% of U.S. consumers have bought groceries online in the last 12 months, and most of them plan to keep doing so post-pandemic, according to a report from Coresight Research.

Why it matters: The rise of online food shopping is leaving behind smaller chains or mom-and-pop grocers that can't afford to offer delivery — turning grocery into a survival of the biggest players.

  • It's also fueling the creation of more gig jobs, as companies like Amazon, Walmart and Instacart search for workers to feed the spiking delivery demand.
  • All this is strengthening the pandemic-induced stay-at-home economy — one which deepens the U.S.'s economic divide.

What's happening: The online grocery market swelled to $55.5 billion in 2020, an 81% increase from 2019, per Coresight, and that growth is expected to continue — albeit to a lesser extent — in 2021.

One of the big drivers of growth in the grocery delivery market is older customers, experts say.

  • "We’ve had reluctant tech adopters forced to adopt tech in ways that they wouldn’t have done in years or ever," says Betsey Stevenson, a University of Michigan economist.
  • According to Coresight's survey, 62% of current online shoppers between the ages of 45 and 60 and 55% of those over the age of 60 plan to continue to use those services as frequently or more frequently after the pandemic.

Go deeper

Dan Primack, author of Pro Rata
50 mins ago - Economy & Business

The mental health deal boom

Illustration: Sarah Grillo/Axios

The positive social media response to Simone Biles withdrawing from Olympic competition highlights how the artificial line between health care and mental health care is finally beginning to dissolve. And startup investors have taken notice.

By the numbers: Venture capital investments in mental health startups rose 72.6% between Q1 2020 and Q1 2021, per CB Insights.

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday — slower than the 8.4% economists expected.

Why it matters: It came as the economy made strides toward further reopening, vaccinations rolled out and government stimulus bolstered spending. But supply crunches held the pace of growth back.

1 hour ago - Sports

U.S. gymnast Suni Lee wins Olympic gold in individual all-around

Suni Lee Photo: Jamie Squire/Getty Images

U.S. gymnast Sunisa "Suni" Lee won Olympic gold on Thursday in the individual all-around event.

The big picture: Simone Biles, who withdrew from the event to focus on her mental health, cheered from the stands with the rest of the women's gymnastics team as they watched Lee and teammate Jade Carey compete. Brazil's Rebeca Andrade won the silver and Russian Angelina Melnikova took the bronze.