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Deliveroo, UK orders surge 59% despite restaurant reopenings | delivery roux

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Deliveroo saw a 59% increase in orders from the UK and Ireland between July and September as its partnership with Amazon more than doubled its premium subscription service membership.

The food delivery platform, which performed strongly during the coronavirus pandemic with customers often under lockdown restrictions, reported 35.8 million orders in the third quarter, up from 22.6 million orders in the same period last year.

Add in international market sales and total 74.6 million orders, a 64% increase from 45.4 million. The company expects the total trade value (GTV) of all orders, which previously told investors to expect 50% to 60% growth, to grow from 60% to 70% this year. Deliveroo’s overall GTV grew 58% to $1.59 billion in the third quarter.

Founder and CEO Will Shu said he was mindful of the current potential macroeconomic disruptions and uncertainties, but was expecting stronger earnings for the rest of the year and is increasing its annual growth guidance.

The company said the average customer viewing frequency in the third quarter remained stable at 3.3 per month, despite the widespread lifting of lockdown restrictions.

However, Deliveroo ignored the average monthly active consumers, which fell from 7.8 million in Q2 to 7.5 million in Q3, particularly reflecting the typical seasonality of European markets.

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In the UK and Ireland, GTV declined quarterly from 921 million to 852 million quarterly, due to seasonality, the company said. In the international market, GTV fell from 818 million to 742 million units during the same period.

Deliveroo is launching Deliveroo Plus in mid-September, offering free unlimited shipping on orders of 25 or more, through a new partnership with Amazon, available for one year free to all paid Prime members. Since its launch, it has more than doubled its subscriptions in the UK and Ireland.

The company also launched a grocery delivery service called Hop with Morrisons in September.

Sources

1/ https://Google.com/

2/ https://www.theguardian.com/business/2021/oct/20/uk-deliveroo-orders-soar-despite-restaurants-reopening

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