This Week in Food Delivery & Quick Commerce (02/03/24)
Hi all,
The new edition of the newsletter is out!
Highlights:
JET books €1.5B impairment
Ocado might sue M&S
Coupang had a good Q4
Zepto rolls out subscription service
Shadowfax raises $100M
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💬 Quote of the Week
“On Thursday, Zepto launched ‘Zepto Pass’, its own membership programme, which will offer special discounts and free deliveries to its members for both its grocery and food-delivery businesses. It has started with an attractive and heavily discounted price of Rs 19 to Rs 39, hoping to get some initial traction. With this move, Zepto enters the subscription arena where Swiggy runs Swiggy One and Zomato has its Gold offering.”
Source: The Economic Times
📊 Infographic/Stats of the Week
Though the players below are not in food delivery, would probably be interesting each of my ‘growth team’ subscribers to check how your platform’s retention compares vs that of Walmart or other marketplaces (incl. Amazon)
Temu isn't just about attracting eyeballs; it's keeping them glued. With over 28% of customers returning 16 months after their first purchase, Temu's retention rates are soaring high above Walmart and Target, though still chasing Amazon's tail. This "retention smile" curve showcases how Temu keeps shoppers coming back for more.
Source: MarketMaze
🚚 Deliveries
DoorDash charged NYC restaurant nearly $14K in bogus fees — but only offered to refund half: lawsuit
DoorDash Wants Delivery Location Tech Patent Suit Thrown Out
California AG Announces Second CCPA Settlement, Asserting DoorDash Failed to Deliver Privacy
Los Angeles County Sues Grubhub for Unfair Business Practices and False Advertising
Just Eat forecasts 40% core profit jump, share slip / Just Eat Takeaway Falls as Demand Remains Weak in the US / Rising profits cannot whet the appetite for Just Eat Takeaway
Just Eat Takeaway books €1.5bn impairment charge as acquisition costs bite
Revealed: Deliveroo encouraged restaurants to call police on strikes
Robinhood launches a retirement plan for gig workers / Gopuff, Robinhood Provide Delivery Partners With Retirement-Planning Tools
India's Zomato hits record high, bucking internet stocks' sluggishness
Coupang Soars After Loyalty Perks Lift Sales Above Estimates
China's food delivery market explodes to $208bn as workers scrape by
Alibaba food delivery head steps down in latest exec reshuffle
SkyDrop ends historic drone delivery work as funding runs out
🚀 Q-Commerce
Carrefour, Glovo Launch 30-Minute Grocery Delivery Service In Italy
Zepto rolls out subscription service, fuels competition in quick commerce market
Ocado pledges profit at pretax level in six years / Ocado Predicts Warehouse Growth After £400 Million Loss
Ocado Threatens To Sue M&S In £160m Battle Over Deliveries / Ocado threatens to sue M&S over final joint venture payment / Ocado expects negotiated settlement with M&S over final JV payment / Are Ocado and M&S running out of road?
Wheels or not, Picnic is a supermarket / Online grocery firms are supermarkets, judges say
Iceland to hire 250 more delivery drivers as rival Ocado posts £400 million loss
🍳 Dark Kitchens / Micro Kitchens / Virtual Brands
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💰 Financing / Exits / Acquisitions
Shadowfax confirms $100M round to fuel instant delivery push
Polish startup Restimo bags €465K to help restaurants drive digitisation: Know more
💻 Other
Domino's loyalty program revamp boosts results; to lift prices modestly / Domino’s Pizza Jumps as US Same-Store Sales Beat Estimates
Domino's adds more new franchisees as store profitability improves
Wendy’s will try surge pricing for burgers // Wendy's says it won't do 'surge pricing' after all, backtracking after a backlash
Uber chief unlocks $136mn in options after beating $120bn valuation target
📜 Deeper reads
Winning the subscription battle; and other top tech, startup stories this week
The Quick Commerce Labyrinth: Retrospecting the 10-min Delivery Model and its Economics
How Zomato’s Blinkit buyout rewrote the quick-commerce story
Marc Lore's Wonder: A New Chapter in Food Delivery Inside Walmart, Quakertown
Grab finally hits profitability. But one vertical remains a headache
Who blocked the EU directive on the rights of riders and digital workers
The World’s most downloaded food delivery and takeout apps in 2023
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