Why Online Grocer Thrive Market Is Booming During The Pandemic With Sales Up 90%
When the final tally is in, there are going to be a few retail winners, but many more losers from the Covid-19 pandemic. One in the winner’s column will be Thrive Market, the online grocery company that sells healthy, good-for-you-and-the-planet food and home products through a subscription model.
Thrive Market promises the same natural and organic vibe as Whole Foods but without the negative “whole paycheck” connotation, thanks to a Costco-like membership model.
And a new guided shopping experience added since the pandemic began allows shoppers to create a personal grocery store customized to their special dietary needs and value preferences.
Thrive Market is benefiting from four converging trends that shifted into overdrive by the pandemic: healthy eating, online grocery, subscriptions and personalized shopping.
It’s propelled an already rapidly-growing company, tracking at 40% year-over-year growth before the pandemic, to nearly double its business since, with sales up 90% year-over-year.
“We are about six-years old now, and we have always been a fast-growing business,” says Sasha Siddhartha, the company’s cofounder and chief technology officer. “Since we launched, keeping up the growth and scale has been a consistent focus for us. But then starting in late February/early March, that growth accelerated dramatically, and we continue to hold that accelerated pace. It turns out Thrive Market is a sticky concept.”
Image: “Our goal is to be the customer’s trusted partner, to save them time, save them money and take theGETTY