Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
The majority of U.S. grocery shoppers could be buying online within five years, according to a joint report from Food Marketing Institute and Nielsen.
That timeline represents a faster pace of adoption than previously believed, as both organizations originally estimated it could take up to 10 years for consumers to warm up to buying groceries on the web.
According to projections, 70 percent of shoppers will be buying some portion of their groceries online within five to seven years. That could equate to $100 billion in total spending. The shift online will impact grocery shopping in stores, where consumers are still expected to spend 80 percent of their grocery dollars.
"There is a fundamental shift in retail, and we are seeing an acceleration," said Thom Blischok, global retail strategic advisor to Nielsen. "You can now find the basics of living online pretty easily."
Traditionally, the grocery industry has been more insulated from e-commerce disruption than its peers in the apparel and book sectors. Shoppers tend to be loyal to their grocers, and the grocery supply chain is so complex.
However, the rise of meal kits and delivery services has helped to change shoppers' expectations. Amazon's acquisition of Whole Foods, which threatens to combine data, logistics and automation in a way the industry has not seen, has put the entire industry on notice. Earlier this month, Amazon launched its first automated grocery store.
The shift is already evident: 49 percent of all shoppers bought a packaged good online within the last three months. That includes 61 percent of millennials and 44 percent of baby boomers. It also includes 54 percent of affluent households and 40 percent of low-income households.
Grocery stores, cognizant of the price transparency the web affords, will feel the pressure to keep prices low. The largest ones, like Walmart, are expected to put an extra focus on low prices to help win their battle for market share. To help keep prices down and make shopping an event in itself, they will continue to invest in automation and grab-and-go technology.
Both large and small stores will continue to emphasize fresh and prepared foods, as well as meat, in an effort to compete with goods not easily ordered online.
Changes will also transpire behind the scenes, as brands and retailers look to use data they get through new technology to inform pricing, selection and promotion. Albertson's launched a new service this month to use shopping data in its stores to better assess online ads.