Online food delivery giant Just Eat revealed a drop in orders during their third quarter report due to continued lethargic demand in North America. The firm, which is located in Amsterdam, announced a 6 per cent decrease in orders to 211.1 million for the third quarter. This was slightly lower than the 212 million orders forecasted by Bloomberg’s analyst survey. Specifically, North American orders took a 12 per cent hit.
To counteract this decline, Just Eat has been diversifying its delivery categories and making efforts to increase order numbers by implementing loyalty programmes and forming new partnerships. The company has ventured into non-food categories like wellness and pharmacy, evident through its recent collaboration with Lovehoney Group, a sex-toy manufacturer.
The UK, Ireland and Northern Europe markets of the company, which comprise around 60 per cent of total orders, continue to enjoy growing demand. Just Eat is also looking at the potential sale, whether partly or wholly, of its US wing Grubhub, bought in 2021 at a price of $7.3 billion. – Bloomberg