Grubhub’s decline in order volume, as reported by its parent company Just Eat Takeaway, has been attributed to a 6% decrease across the business and a 12% drop specifically in North America. In 2023, there were 74.1 million orders in North America, which decreased to 63.9 million in the current year. The gross transaction value (GTV) also decreased by 11% in North America while increasing by 11% in the U.K. and Ireland. Despite this downward trend, management mentioned during an earnings call that they are still considering the sale of Grubhub. However, there was a positive note regarding Grubhub’s campus ordering offering, which experienced a 28% increase in orders year over year. This segment now accounts for 18.18% of orders in the North America segment and is expected to continue growing in importance.
Consumers are facing higher prices at restaurants as food consumed away from home is now being 4.2% more expensive than a year ago due to these challenges. Meanwhile, Just Eat has announced the end of its operations in New Zealand as it was not leading player in this small market despite impacting local staff significantly with this closure decision being necessary due to its size. On the other hand, Just Eat remains significant player in Australia and will continue its operations there.
In summary, Grubhub’s decline in order volume has affected its parent company’s revenue and growth prospects as GTV decreased by 11% in North America while increasing by 11%
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