Food delivery ordering growth slows as consumers pinch pennies
December 30, 2022
Growth in the number of orders placed with DoorDash, Uber Eats and Grubhub slowed to about 5 percent, on average, in October and November vs. the previous year period, according to YipitData. That’s the slowest growth rate since the onset of the pandemic in 2020. DoorDash and Uber Eats alone are thought to control roughly 90 percent of the food delivery market in the U.S. “They are at the mercy of macroeconomic pressures for a little bit, especially with lower-income consumers,” said analyst Robert Mollins at Gordon Haskett Research Advisors of the cooling volume being experienced by the apps.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.