Just Eat Takeaway.com said Wednesday that orders in Canada – where it operates as Skip The Dishes – rose 98% to 23.5 million in the third quarter from the same period last year.
Canadians are used to picking up food from restaurants instead of delivering it to their homes. But that seems to be changing, fueled by restrictions imposed during the pandemic locks that kept people at home.
“We’re now transforming this takeover culture into a delivery culture, which is why it’s growing so fast,” Just Eat Takeaway.com investor relations manager Joris Wilton told CNN Business, adding that similar growth rates were observed in the second quarter.
A large increase in the choice of dishes offered by restaurants has also helped, making consumers more likely to order food more often, he said.
Just Eat Takeaway.com, which was created by merging with high stakes last year, is building a great position in online food delivery worldwide. His next target is the United States.
Last month, the company̵
7;s shareholders approved the acquisition of $ 7.3 billion Grubhub (GRUB)
, which he said will create the world’s largest food delivery company by revenue outside China.
Grubhub is present in over 4,000 American cities. The combined group, which processed more than half a billion orders last year, will have more than 70 million active customers worldwide, according to Just Eat Takeaway.com.
The deal is expected to close in the first half of 2021 and will appear as Uber Eats and DoorDash as competition in space continues to intensify.
DoorDash is now valued at $ 16 billion, after $ 400 million in June Uber (UBER), which is trying to buy Grubhub, instead acquires Postmates, calling the launch a “strong complement” to Uber Eats.
Two-thirds of Americans already order food delivery online, according to Morgan Stanley. “The potential for growth is huge, given the extremely low inflow of a possible $ 350 billion into restaurant spending, including fast food,” the investment bank said in a February report.
Just Eat Takeaway.com has its say Global orders increased 46% to 151.4 million in the third quarter from a year earlier, leading to an increase in market share in Canada and the United Kingdom, where the company increased marketing costs to repel competitors such as Amazon (AMZN)with support for Deliveroo and Uber Eats.
Accelerating order growth has widened the “gap between competitors in our key markets,” CEO Jitse Groen said in a statement. This puts the company in a strong position for its “traditional growing season” in the fall and winter, Groen added.
Its shares, which are listed in London and Amsterdam, rose nearly 6% on Wednesday.