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- Consumers continue to spend more, but Largest food delivery appDoorDash, Inc. dash When Uber Technologies Inc. uber Uber Eats, analyst and industry executive said:
- According to The Wall Street Journal, people have switched to in-store pickup, ordering fewer dishes and changing what is delivered.
- In November, DoorDash CFO Prabir Adarkar said that deliveries are still part of everyday life for people who have just adjusted their behavior as they recover from the pandemic.
- Some consumers have moved from expensive restaurants to fast food, while others have ordered fewer items at restaurants.
- Restaurant management said some customers picked up more food to avoid delivery charges.
- Food delivery apps have become popular during the pandemic.
- Together, DoorDash and Uber Eats control 90% of the U.S. food delivery market and record sales growth. However, growth slowed across the industry.
- Orders and spend for Grubhub, America’s third-largest food delivery app, have deteriorated.european owner Just Eat Takeaway.Com NV JTKWY Since April, we have considered selling Grubhub.
- Most analysts predict continued growth for DoorDash and Uber Eats.
- DoorDash and Uber Eats tried to attract more customers with holiday deals in their membership programs that included discounts on meals and delivery charges.
- Cost-conscious consumers are increasingly turning to subscriptions to save money, according to the app.
- Grubhub has expanded its options to allow groups to order multiple orders together, helping consumers save on shipping costs.
- Businesses cut costs. DoorDash laid off 1,250 employees late last month. Uber said it would cut marketing spending and suspend hiring.
- Price action: At the last check on Thursday, DASH shares traded 0.85% higher in the premarket at $24.80.
- Photo by Mapbox via Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. all rights reserved.
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