As economic pressures continue to affect consumer behavior, one clear trend has emerged: basket sizes are shrinking. According to our most recent Holiday Guide, the average online shopper in 2024 has 6.1 items in their cart, down from 7.7 in 2023, and even more so from 9 items in 2022.
Although basket sizes are shrinking, are consumers making more frequent shopping trips? A survey conducted by Jungle Scout in 2022 and 2023 showed that 57 percent of consumers shopped online at least once a week. In 2024, this has dipped to 54 percent. The question for brands is: how can you ensure your products still make their way into shopping carts despite smaller baskets?
MikMak used basket-level data from the MikMak Platform to investigate the trends shaping the Grocery, Alcohol, Beauty, and Personal Care categories. Here’s what we discovered and how brands can stay ahead in a rapidly evolving landscape.
Grocery baskets have stayed consistent since last year, and shoppers are buying frequently
According to the MikMak Shopping Index, basket sizes for grocery brands dropped significantly from 11.2 items in 2022 to 6.1 items in 2023. In 2024, baskets have remained at 6.1 items, showing shoppers consistently adding around six items to their online carts.
A survey conducted by Power Reviews revealed that 82 percent of shoppers had bought Grocery items online in the past three months. The same survey showed that of those consumers who shop online, 23 percent shop online once per week, and 28 percent shop online multiple times per week.
With this frequency, brands should consider what else they might be buying. Are other grocery items in their baskets? Are they also purchasing Personal Care or other products from the same retailer? Does basket size vary depending on the product type? You can uncover these insights by using eCommerce analytics software like MikMak.
Combining basket-level data with other first-party insights and a balanced marketing strategy will help keep your products in mind, increasing the likelihood of conversions for your brand.
Alcohol baskets show signs of recovery after a dip in 2023
According to the MikMak Shopping Index, Alcohol basket sizes fell from 8.4 items in 2022 to 6.5 items in 2023, but have shown a slight recovery in 2024, with the average basket size increasing to 7.1 items.
While frequency data for Alcohol purchases is less clear due to the varied ways consumers purchase Alcohol, recent data from N.C. Solutions shows that U.S. consumers now have three drinks per week on average, down from four in 2023.
MikMak recently discovered that Instacart is now the preferred platform for purchasing Alcohol online following Drizly's shutdown. This opens up significant opportunities for product adjacencies for Alcohol brands, as Instacart is also a popular platform for purchasing Grocery items. By leveraging MikMak, you can discover what else is in your customer’s cart and tailor your strategy accordingly.
Beauty and Personal Care baskets are shrinking, but frequent purchases persist
Basket sizes for Beauty and Personal Care products have gradually decreased over the past few years. For Beauty, the average basket size dropped from 9.5 items in 2022 to 8 items in 2023, and to 7.3 items so far in 2024.
Personal Care followed a similar trend, shrinking from 7.4 items in 2022 to 6.6 items in 2023, and to 6.2 items in 2024.
Although baskets are shrinking for Beauty and Personal Care brands, recent data from Statista shows that about 31 percent of U.S. consumers shop for Cosmetics online at least once a week. Of that 31 percent, 13 percent are shopping weekly, 8 percent are shopping a few times a week, and 10 percent are shopping daily.
These frequent shoppers may be checking out at a variety of retailers. By leveraging MikMak Insights, whether shoppers are showing a preference for specialty retailers like Ulta or Sephora, or mass merchants like Walmart, Amazon, or Target.
With this knowledge, brands can better understand where their consumers are shopping and optimize their strategies accordingly.
Use insights to stay competitive amid shrinking basket sizes
To combat shrinking basket sizes and increasing economic pressures, brands must harness real-time data to stay competitive. Our partners at Profitero recently showed in their report, Fighting Back Against Private Label Online, that private labels are becoming a more prominent threat, especially on the digital shelf. National brands can protect market share by leveraging insights that reveal consumer behaviors and purchasing patterns. This allows brands to adjust strategies quickly, ensuring their products are not overshadowed by cost-competitive private labels.
Stay ahead of economic shifts with MikMak
To remain prepared in an evolving economic landscape, we encourage brands to explore our Holiday Guide for essential strategies for driving profitability. Our recent inflation webinar also delves into tactics for navigating inflation pressures while maintaining growth. Leverage these insights and book a demo with MikMak today to discover how first-party data can fuel your success in 2024.
