Grubhub’s Stan Chia explains Ecommerce for restaurants
Speaking at the Food On Demand Conference shortly after the announcement that Grubhub would be delivering food from YUM Brands’ Taco Bell and KFC, the company’s chief operating officer Stan Chia, said that Ecommerce was doing for restaurants what it had already done for retailers. The effects have been pronounced: for the first time in recorded history, people are spending more at restaurants than on groceries.
Grubhub’s share price has increased by 38% so far this year!
SOURCE: Yahoo Finance
Describing Gruhub’s huge market share, Chia said it was “a fun place to be.” Even before the YUM deal came along, Grubhub was the market leader in food ordering and delivery. “Our goal is to connect restaurants and consumers,” he said – clearly, the company is succeeding.
Already active in 1,600 markets, what could be next for Grubhub? According to Chia, it won’t be drones and robots: “We look at innovation as what can you do for the restaurant and guest. If we make money for the restaurant, everybody wins. We’re not convinced that drones and robots save money or make it a better experience. So we focus on practical items.”
Chia said that there are specific challenges that make the future of food order and delivery services hard to predict: “it’s hard. It’s so locally regulated. The practical answer is ‘every market will be different’.”
Dominion holds Grubhub in its Global Trends Ecommerce Fund.
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