Instacart says value-seeking shoppers are boosting discount retailers like Big Lots

Instacart’s latest numbers point to a shopper who is thinking harder before every purchase. The company said gross transaction value rose 13% year over year to $10.288 billion in the first quarter of 2026, while total revenue climbed 14% to $1.02 billion and adjusted EBITDA reached $300 million. Instacart also said advertising and other revenue rose 16% to $286 million, and it forecast second-quarter gross transaction value above Wall Street expectations as customers increasingly sought value.

That value hunt is being sharpened by a tougher shopping environment. Reuters reported that disrupted supply chains and inflation tied to the U.S.-Iran conflict are making everyday products more expensive, which pushes households toward cheaper substitutes and sharper promotions. On Instacart’s platform, club retailers continued to outperform, and value-focused retailers were growing faster, a reminder that bargain hunting is now spreading across channels instead of staying inside a single discount aisle.

For Big Lots, that is a meaningful signal because the chain has spent the past year trying to rebuild after a bruising restructuring. Big Lots filed for Chapter 11 bankruptcy in September 2024, and CNBC reported at the time that it had begun the process of closing nearly 300 stores to fix its balance sheet and reduce costs. In late December 2024, Variety Wholesalers agreed to acquire at least 200 Big Lots stores and up to two distribution centers, and Reuters later reported the acquisition of 219 stores out of bankruptcy.

The rebound has been real, but so is the pressure. Variety Wholesalers said in April 2025 that the first wave of reopened Big Lots stores would return under new ownership, and by early June 2025 it said 219 stores were back in business. The company also said its phased reopening strategy had been met with an overwhelmingly positive customer response, showing there is still demand for a credible bargain format when the store and assortment feel worth the trip.

For workers, the Instacart trend is less about headlines than about what happens on the floor. A value-seeking customer usually means smaller impulse buys, tighter price comparison, and more attention to essentials and promotions. That should show up in basket size, traffic patterns, and the questions shoppers ask at the register: whether a price is truly low, whether a product is in stock, and whether a deal is worth grabbing now. Club-channel strength does not automatically mean every value retailer wins, but it does mean Big Lots can benefit if it delivers clear pricing, full shelves, and a sharp offer when customers are ready to stretch a dollar.