Instacart Forecasts Strong Quarter on Demand for Cheaper Grocery Deliveries
Instacart forecast third-quarter gross transaction value above Wall Street estimates on Thursday, betting on resilient demand amid efforts to offer cheaper groceries through its platform, sending its shares up 9% in extended trading.
The company, also known as Maplebear, has doubled down on its push to match in-store prices on its platform to attract value-seeking consumers looking to stretch their budgets.
"On our platform, retailers that price items at in-store parity consistently grow faster on average than those with markups," outgoing...
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