Sluggish demand, gig worker churn, q-comm competition behind slowdown in food delivery, says Deepinder Goyal

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Deepinder Goyal, CEO of Zomato parent Eternal on Thursday listed three key reasons behind a slowdown in food delivery – the company’s biggest revenue and profit generator. He said that sluggish demand environment, a temporary shortage of delivery workers due to high demand for gig workers in quick commerce, and competition from rapid delivery of packaged food in quick commerce are leading to a drop in demand from restaurants.

For the January-March period, Zomato, which is Eternal’s food delivery business, reported a 16% year-on-year rise in…



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Sluggish demand, gig worker churn, q-comm competition behind slowdown in food delivery, says Deepinder Goyal


Deepinder Goyal, CEO of Zomato parent Eternal on Thursday listed three key reasons behind a slowdown in food delivery – the company’s biggest revenue and profit generator. He said that sluggish demand environment, a temporary shortage of delivery workers due to high demand for gig workers in quick commerce, and competition from rapid delivery of packaged food in quick commerce are leading to a drop in demand from restaurants.

For the January-March period, Zomato, which is Eternal’s food delivery business, reported a 16% year-on-year rise in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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