Following up on my recent blog about how the lockdown will change our economy, I saw this from investment analyst Whitney Tilson…

“The Spring lockdown…  and a proliferation of affordable prepared food options have accelerated the long-term trend toward less daily cooking.

“The Shelby Report, a supermarket industry news site, recently noted in June the grocery industry saw what would have normally been eight years of growth compressed into one month.

“Kroger (KR) – the largest grocery chain in the US – reported… that sales were up 15%, compared to growth rates of minus zero to 2.5% in the past 4 years. Sales from Albertsons (ACI) were up even more, 26.5% during the same 16 weeks.

“Comparing Albertsons’ ID sales from spring and early summer to those at Kroger from late spring through the summer tells us that things slowed down at the supermarket when people started leaving home more, but that sales are still growing at an elevated pace versus before the pandemic struck.”