This Week in Food Delivery & Quick Commerce (07/01/23)
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As always, primarily, I urge you to support the Ukraine humanitarian efforts.
Highlights:
Flink hits €400mn in sales
Yogiyo launches quick commerce
Crisp doubles losses
AirAsia stops food delivery in SG
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💬 Quote of the Week
“Flink is one of more than a dozen companies in the US and Europe that together raised more than $5.5bn since 2020 to deliver groceries and other convenience store items in as little as 15 minutes from a network of small urban warehouses or “dark stores”.
Merkel said that the company was making “very good progress” towards profitability, with about 20 per cent of its delivery hubs now profitable, excluding central corporate costs. KPMG audited its accounts in Germany.
Flink expects its German business, which makes up about half of its total revenues, to be profitable in the fourth quarter of 2023, including a proportionate share of central corporate costs. The entire business, including subsidiaries in France and the Netherlands that launched last year, would be profitable by the fourth quarter of 2024, it added. ”
Source: FT
📊 Infographic/Stats of the Week
Instacart will retain its status as grocery delivery king this year, capturing 73.0% of US digital grocery sales among third-party delivery services, per our forecast. However, competitors such as DoorDash and Uber will continue to eat away at its dominance.
Source: Insider Intelligence
🚚 Deliveries
DoorDash has officially rolled out a new feature for picking up packages for a $5 fee
India: Swiggy posts 230% rise in its revenue / losses up 124%
Glovo ramps-up its Africa business, faces challenge from Yango and Jumia
Illegal weed delivery start-up Dispenseroo sees meteoric growth in the UK
🚀 Q-Commerce
Billa Bulgaria to invest 40mln euro in 2023, start online sales in Q1
Flink hits €400mn in sales as German grocery app seeks to narrow losses
🍳 Dark / Ghost Kitchens
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💰 Financing / Exits
💻 Other
Amazon hikes free same-day delivery minimum order amount by 50%
Google and Meta are losing their edge as TikTok, Amazon, Instacart ads grow
McDonald’s to Make Staff Changes by April as Part of Broader Revamp
📜 Deeper reads
What Merqueo’s IPO Bid Tells Us About the Future of Delivery Apps
FunkFlow retail technology whitepaper: how to make Q-commerce irresistibly profitable
ETtech Long Read: Quick commerce may find it tough to bag new users, investors in 2023
Aggregators Gained Ground in Race for Digital Ordering in 2022
Consumers would rather wait for grocery than pay a delivery fee
College students could start using their dining dollars for DoorDash meals thanks to this startup
Instacart dominates grocery delivery, but Uber and DoorDash are catching up
The rise and fall of 15-minute delivery startups, an oral history
In defence of Amazon and its physical stores strategy as Kroger and Walmart make big moves
Dunzo, Blinkit, Zepto new distribution platforms for FMCG majors
Domino’s New CEO Drives ‘Fortressing’ Strategy To Great Results
Uber Eats vs Mr D Food vs Bolt Food — Delivery price face-off
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