September 19, 2023


In Part 1, we compared Instacart’s growth to its eTail peers, and today we’ll be doing the same exercise for its advertising business.


Key takeaways:

  1. Advertising has grown from 20% of its business in 2020 to 29% currently
  2. Relatively small digital ad player at $740mm, but has grown faster (+24%) than peers
  3. Management’s tempered outlook on ad growth surprising considering positive digital ad market


The full version of this article is only available to Stratably+ subscribers. Click here to subscribe today and gain access to this premium content.