Between January 2019 and March 2023, DoorDash’s market share among these companies roughly doubled.Īmong the companies in our analysis, Uber Eats came in second place with 23 percent of sales in March 2023. DoorDash made its public market debut with one of the biggest IPOs of 2020, and has accounted for an increasing percentage of market share during the COVID-19 pandemic. Our data reveals that in March 2023, sales for major meal delivery services grew 11 percent year-over-year, collectively.īloomberg Second Measure’s transaction data shows that in March 2023, DoorDash (NYSE: DASH) and its subsidiary Caviar earned 65 percent of U.S. Despite new macroeconomic challenges such as rising food prices, competition from dine-in restaurants, and increased fuel costs, the meal delivery industry as a whole is continuing to see some growth, though at much lower rates than those pandemic peaks. Consumer transaction data shows that in April 2020, combined sales for major meal delivery services grew 162 percent year-over-year and 59 percent compared to the previous month. They also aggressively vied with each other for market share, heavily promoting themselves through social media and email offers and discounts.When many Americans sheltered in their homes early in the coronavirus pandemic, meal delivery sales reached new heights.
Last year, orders through the two privately held companies totaled about $875 million in gross food sales, resulting in combined revenue of more than $100 million. Meanwhile, restaurants can benefit from new business and don't have to deal with as many phone orders, which can be labor intensive and prone to error. The services appeal to diners by eliminating the need for a kitchen drawer of takeout menus, while also helping them discover new pickup and delivery options in their neighborhoods.
in 2004, said that by combining their complementary restaurant and diner networks the new company will be well positioned for continued growth in what's become a huge market. "We believe the merger will enhance the products we are able to offer both our diners and restaurants." "We are excited to combine the strengths of these two dynamic organizations in an industry that is rapidly gaining traction," Maloney said in a statement.
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