Instacart Bounces Back After Split with Whole Foods
In 2017, Whole Foods made up about a fifth of Instacart’s monthly orders. So backers of the startup were understandably concerned when Whole Foods and Instacart ended their partnership in May. Instacart’s CEO Apoorva Mehta said the company was ready, but orders still fell in June.
Now, Instacart has rebounded, with orders from retailers such as Costco and Publix amply compensating for the lost Whole Foods business.
“Both retailers and consumers are becoming increasingly reliant on Instacart,” Karen Short, an analyst at Barclays, said in a note.