TL;DR
Grubhub's stock prices decreased 43% after a disappointing third quarter, prompting the company to announce a new plan to attract new customers and expand its perks/loyalty programs. The plan includes listing non-partner restaurants on its platform to gain more customers.
Between Grubhub, Uber Eats, DoorDash, Postmates, Seamless and more, third-party delivery companies face a lot of competition. While some companies are thriving, others are, well, sinking.
CNBC reported that Grubhub took a massive hit and its stock prices decreased 43%, after the company reported a “disappointing third quarter.”
As a result of this major loss, the brand announced a new plan to try to help it find its way back to the top. According to Nation’s Restaurant News (NRN) , Grubhub said it plans on being more aggressive in attracting new customers, as well as dissuading customers from using other delivery service platforms by expanding its perks/loyalty programs.
Additionally, Grubhub plans to pivot from its historic legal policy of never listing non-partner restaurants to including these non-partner options on its platform to try to gain more customers across the board .
That’s a bold strategy, Cotton! Let’s see if it pays off for them .
In this story
This story was originally published in 1851 Franchise on October 30, 2019. Burnaze summarizes and links to the original reporting.
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