DoorDash reports first-ever quarterly profit, revenue beats estimates

Your Personal Navigator in the Ever-Evolving World of Food Delivery

Week 28/10/2024

🍕 Food Delivery

DoorDash reports first-ever quarterly profit, revenue beats estimates. DoorDash Inc reported its first-ever quarterly profit as a public company and beat revenue expectations for the third quarter of 2024 (Yahoo Finance).

Deliveroo launches online retail arm in Singapore to expand non-food delivery offering. Deliveroo, a delivery platform, has launched ‘Deliveroo Shopping,’ its online retail arm that expands delivery options to include non-food needs (Marketech Apac).

Swiggy fined Rs 35,000 for ‘going the extra mile’ in delivery charges. A Telangana court has ordered food delivery platform Swiggy to issue a refund and compensation, and to stop such practices (Business Standard).

How long should food delivery take? It takes less than 30 minutes for the average American to get frustrated when waiting for their food to arrive after placing an order for delivery, according to new research (SWNS).

Brighton residents order the most oat milk on Deliveroo. Research by Deliveroo has revealed that people in Brighton order more oat milk and dairy alternatives than any other city in the UK (The Argus).

‘Swiggy quick-commerce may beat food delivery business’. Swiggy’s IPO is set to launch on November 6, marking the second-largest public issue this year in India (Times of India).

Chicken wings and whole cucumbers top trending food deliveries of 2024. Chicken wings, Caesar salads and a whole Waitrose cucumber are the UK’s top trending food deliveries of this year, according to Deliveroo (Aol).

DoorDash stock gains momentum as grocery and international orders surge. On Thursday, Oppenheimer adjusted its outlook on DoorDash Inc. raising the price target to $180 from the previous $165, while maintaining an Outperform rating on the stock (Investing.com).

Hottest

Wolt CEO: ‘We always thought that we would evolve to become more like a bank’.

⚡Q-Commerce

Quick commerce in India: Market leaders & new entrants. Explore 10 emerging quick commerce startups striving to emulate the success of Blinkit and Zepto in the fast-paced delivery market (Your story).

Nearly 2 Lakh Kirana Stores Close as Battle for Survival Against Quick Commerce Players Intensifies. Experts suggest that kirana stores are looking for ways to create an online presence amid the rise in competition from the quick commerce sector (Outlook Business).

Capital won’t decide winners in quick commerce: Swiggy’s Sriharsha Majety. Swiggy’s CEO emphasized that customer experience, rather than capital, will dictate quick commerce success (mint).

Quick Commerce Boom Forces Over Two Lakh Kirana Stores To Close, Alleges AICPDF. AICPDF argues that a balanced approach is needed to support the heritage of India’s kirana stores and protect small businesses from further economic stress (BW Disrupt).

Billionaire Ambani’s Reliance plays catch-up to ride India quick commerce wave. Asia’s richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service (Reuters).

Behind the 10-minute delivery boom: How quick commerce is changing India. As consumers turn to the quick commerce craze, multiple platforms now offer 10-minute deliveries, yet few consider the hidden societal costs of this convenience (Business Standard).

🍏 Grocery Delivery

Too Good To Go: New good bag delivery service launched. Too Good To Go has announced it will offer a nationwide delivery service for its food parcels (Swindon Advertiser).

Next-Gen Retail Media is Here for Grocery Delivery Platforms. As shoppers adapt to an omnichannel marketplace, wherein shopping capabilities are offered in-store and online, retailers and CPG manufacturers must work hard to capture consumer attention (The Food Institute).

Cub grocery now accepting SNAP for online orders. The supermarket joins a host of other retailers approved to accept the food assistance payments for online orders (The Minnesota Star Tribune).

Amazon continues to grow its grocery, pharmacy businesses. CEO Andy Jassy says strengthening its ground delivery network is paying off (Supermarket News).

🛸 Delivery Tech

From Lime to Uber to Hertz: Free and discounted Election Day rides. Election Day is nearly here, and if you haven’t already mailed in your ballot or gone in for early voting, you might need a ride come November 5 (Techcrunch).

Coles Add Electric Prime Mover Truck To Grocery Delivery Network. Coles has become Australia’s first retailer to introduce an electric prime mover truck to its transportation network, with the heavy-duty vehicle now delivering groceries to hundreds of stores across Victoria (ESM).

E-Commerce

DHL eCommerce publishes US-focused e-commerce shopper report. Ahead of this year’s peak season, DHL eCommerce has released the latest installment of its Online Shopper Trends Report with a special report that reveals insights from the US market (Parcel and Postal Technology International).

E-Commerce in China as Part of a Digital Revolution. China’s e-commerce landscape has grown and changed over the past two decades, capturing the rise of consumer income as the economy in China booms ahead of other countries (China Briefing).

Monta continues to expand. This week, fulfillment company Monta has announced further international expansion. The company will open fulfillment centers in France, Italy and Poland (Ecommerce News).

Thailand’s e-commerce market sees 14% growth in revenue in 2024. Thailand’s e-commerce market has grown 14 percent year on year, with revenue hitting 1.1 trillion baht in 2024, compared to 980 billion baht in 2023, according to Thanawat Malabuppha, the CEO and co-founder of priceza.com (Nation Thailand).