TL;DR: Instacart delivered steady +10% GTV growth in 1Q25, driven by strong order volume but offset by lower AOV. Most notably, advertising growth reaccelerated to +14% with ads as a percentage of GTV growing by +10 basis points. While the platform remains highly relevant for CPGs, it still lacks breakout momentum relative to Amazon and Walmart, especially as anticipated inflation puts pressure on value-seeking consumers.
5 minute read
Instacart reported its 1Q25 financial results yesterday evening, shedding light on its growth trends, advertising business, recent consumer behavior, and more.
Today, we share a detailed recap covering its growth trends in the quarter, our updated forecasts, and notable commentary regarding recent consumer behavior, its advertising business, its acquisition of Wynshop, and more.
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