Quick Answer 🔍How many people use Instacart in 2023?
Instacart has 9.6 million users.
This article is about how many people use Instacart in 2023 and other interesting information about this online grocery shopping app.
Grocery shopping can be a lot of fun. But with a jam-packed schedule, it has become a weekly tedious task we all want to ditch.
For those wishing they can just give their grocery list under the rug and get it done by someone who has the time and energy to do all the shopping in exchange for a small delivery fee, Instacart heard you!
How Many People Use Instacart in 2023?
Today, millions of people ditch having to drive to a grocery store and go round about looking for a parking space that’s been missing for an hour.
Everything can be bought online, including that last piece of Nature’s Own 100% whole wheat bread from Costco, with the help of Instacart.
How many people use Instacart in 2023? There had been no update on Instacart’s latest user count since its last release in 2020.
During that time, the company reported having 9.6 million users, having added more than 4 million new users from its 2019 count.
In the same year, Instacart’s customer order volume skyrocketed by 500% year-over-year, helped by the unprecedented mobility lockdowns and restrictions.
Instacart’s Annual User Count Over the Years
The San Francisco-based firm has been around since 2012, but it was not until 2020 that its name made headlines for being among the roster of the pandemic’s most helpful apps.
Take a look at Instacart’s annual user count history from 2017 to 2020.
- 2017 – the app had 3.3 million annual users during the year
- 2018 – the app had 4.3 million annual users during the year
- 2019 – the app had 5.5 million annual users during the year
- 2020 – the app had 9.6 million annual users during the year
Before its record-breaking year, consumer interest in online grocery shopping is growing but still leans towards a flatline.
In 2019, more than 80% of people from its main target location, the United States, reported never having ordered their groceries online in the past.
Covid 19’s entrance just came right on time for Instacart, where both grocery and e-commerce enterprises became the biggest winners of lockdowns. And Instacart happens to be capitalizing on both sectors.
All About Instacart: How Does it Work?
Instacart is among the earliest grocery delivery platforms made available among consumers in the United States and Canada.
The app was launched to the public in 2012, under the direction of its founder, Apoorva Mehta, who happened to be a former Amazon software engineer.
Instacart is just one of the entrepreneur’s 20 businesses operating in different fields, some related to legal and gaming industries.
The enterprise can be directly linked to the business framework of Amazon Fresh, Amazon’s thrust into online grocery commerce.
The difference? In Instacart, you will have a personal shopper who will do all the work for you.
This designated person will keep you posted about the latest updates on your grocery list through direct message.
Failed to secure a bag of Cheetos Crunchy Flamin’ Hot from Albertson’s? No problem. You can always direct your personal shopper to get the cheese puffs instead.
The best part? You will call the shots on which grocery store you want to buy, unlike on Amazon Fresh where you are confined to only one option.
Instacart Reported a Net Profit in 2020
Due to its versatility, many consumers became keener to using Instacart regularly than any other grocery platform.
This sent the company’s financial standing to greater heights.
From its bleeding business with a $300 million annual loss under its balance sheets in 2019, Instacart hit an annual net profit worth $50 million in 2020.
That was a 360-degree turn of events for the company, given that its annual revenue has never been sounder until 2020 came.
Annual Revenue Over the Years
Take a look at the history of Instacart’s annual revenue from its first full year in the market to 2021.
- 2013 – the company reported an annual revenue amounting to $10 million a year after its launch
- 2014 – the company reported an annual revenue amounting to $75 million during the year
- 2015 – the company reported an annual revenue amounting to $120 million during the year
- 2016 – the company reported an annual revenue amounting to $185 million during the year
- 2017 – the company reported an annual revenue amounting to $300 million during the year
- 2018 – the company reported an annual revenue amounting to $525 million during the year
- 2019 – the company reported an annual revenue amounting to $735 million during the year
- 2020 – the company reported an annual revenue amounting to $1.5 billion during the year
- 2021 – the company reported an annual revenue amounting to $1.8 billion during the year
Instacart hit its first billion-dollar revenue in 2020 at $1.5 billion. The positive momentum continued through the following year, with the company reporting $1.5 billion in annual revenue in 2021.
Lockdowns are Over: Where is Instacart Headed?
The big question now lies in the direction of Instacart, now that people have returned to their normal routines of searching for the last parking space at Costco and walking their way through buying the items on their grocery list.
Instacart’s founder, Apoorva Mehta, stepped down from the top position last year and the company reduced its valuation to $24 billion in early 2022.
These events directly translate to one thing: Instacart struggles to find a sure footing in a situation where the new user count trickles, competition is tough, and grocery stores are investing big in their own online delivery services.
But there is a silver lining for the platform. Millions of people are still willing to pay in exchange for convenience.
If Instacart will be successful in mobilizing its subscription service and getting millions to bite the bait, its glory days might be too far from over.
Grocery shopping takes time and energy, and many consumers are willing to pay a small amount of premium to ditch this responsibility.
In 2020, Instacart has not only become a platform for convenience but also a helpful application that helps people, especially those who could not leave their homes for health reasons, shop for their essentials such as food, water, and paper towel (even during times when paper towers were running low on grocery stores).
If Instacart manages to capitalize on this laggard time to upgrade its business model and look for new ways to stay relevant, it can be one of the most successful e-commerce platforms in the next 10 years.
Thank you for reading our article on how many people use Instacart in 2023.