Based on internal grocery transaction data on the Stor.ai ecommerce platform from November, the average cost per grocery item in the USA decreased by 2.2% in November 2022. This decrease reverses the trend of consistent increases in average cost per grocery item for the last several months. Analyzing over 1M item transactions on our platform, the average cost per item in November was $6.21, down from $6.35 in October, $6.34 in September ad $6.33 in August. While Stor.ai does operate on a global scale, these findings are specific to the US market.
“Hopefully, this is another good indication that the peak inflation period is behind us,” said Charlie Wright IV, US President of Stor.ai.
Despite the November decrease in average cost per grocery, it’s still a lot more expensive to shop for groceries than it was in 2021. In November 2021, the average cost per grocery item transacted on the Stor.ai platform was $5.57, meaning cost per item has increased by 11.5% since last November.
In conjunction with the reduction in cost per item, the average order value also decreased from $184 to $180, a 2.2% drop.
Not all grocery categories decreased in price though. Some categories actually continue to increase; for example: Caviar & Seafood and Health & Beauty. Here is the full category breakdown (click on the image to expand size):
And here we have it in graph format, because who does not enjoy a good food category graph?