Revenues jumped 30% YoY as consumers’ takeaway habits solidified.
Demand for food delivery strengthened in Q2, DoorDash and Uber said, as more customers become used to ordering restaurant meals and groceries online. Order frequency on Uber’s delivery platform reached all-time highs during the quarter, CEO Dara Khosrowshahi said in prepared remarks, while volumes and profitability for the unit also hit record levels. Delivery bookings jumped 20% YoY, while revenues surged 25%. DoorDash also broke records, with total orders (up 20% YoY), marketplace GOV (up 23%), and revenues (up 25%) all surpassing previous quarterly highs. Food delivery is one area that is so far immune to uncertainty—a sign that consumers are increasingly wedded to services that offer convenience, and are willing to pay a premium (or at least a membership fee) to get food and other goods delivered quickly to their doors.
DoorDash partners with Lyft: The combination should make the delivery service a stronger competitor to Uber, which offers members of its Uber One service free food delivery and discounted rides.
DoorDash is the latest delivery platform to turn to streaming to boost membership sign-ups: The company will offer DashPass subscribers free access to Max’s ad-supported tier in a bid to boost sign-ups and grow sales.
Uber and DoorDash report double-digit growth as customers prioritize convenience: Order frequency rose in Q2 thanks to both companies’ membership programs and growing selections of merchants.
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