GRUB is off 40%+ today following yesterday’s earnings release. After parsing through managements’ commentary we thought it might be helpful to validate some of their comments.
The two pieces we are going to focus on are:
- GRUB referenced competition increasing from the likes of Uber Eats and Door Dash.
- GRUB explained that Uber Eats and Door Dash have won share via bring promotional.
What our survey has been saying:
- GRUB has been losing share to Uber Eats and Door Dash. In the past year alone, the percentage of Grubhub users who ALSO use Door Dash has nearly doubled.
- Users of Uber Eats and Door Dash have been increasingly likely to view pricing/value from Uber Eats and Door Dash more favorably in recent quarters. IE – Grubhub isn’t the only one that has noticed competitors getting more promotional, users of each platform have noticed too.
Some charts to show you what we mean:
