[eMarketer] On-demand food delivery services on meteoric rise
There has been a pandemic-induced shift in how consumers order their food with online purchases now increasing exponentially since the onset of the pandemic.
This has had a direct and positive impact on online food delivery services that are recording unprecedented demand which has inspired their expansion.
According to a report quoted in eMarketer, 62 per cent of US consumers indicated that they ordered food online at least once every month before COVID-19 with 78 per cent saying they have either maintained or increased how often they place their orders amid the pandemic.
The online restaurant marketplace sales via platforms like Grubhub and DoorDash recorded more than double growth in 2020 according to an eMarketer forecast.
Players in this sector have recorded new developments as a result of this boon in online sales. For example Amazon announced it is expanding its food delivery service in India, UK food delivery service Deliveroo is kicking off IPO procedures in London, with an expected valuation of $10 billion, per The Wall Street Journal and US software as a service platform that provides restaurants with ordering and delivery software Olo restaurants with ordering and delivery software.