Smartphone-based purchases of groceries and restaurant orders are a bustling enterprise worldwide. From Australasia to the Americas, Europe, and across the Orient, an increasing number of consumers use apps. The food delivery market, in particular, is rapidly increasing. Led in large part by P2C services (platform to consumer), this bustling industry ensures that consumers get their just deserts in double-quick time.
Hungry customers initially relied on aggregators– middlemen for folks ordering takeaways. These apps paved the way for upgraded applications with infinitely greater choices, food and service variety, and loyalty rewards systems. Before the pandemic, the big three dominated US-based food delivery services– GrubHub, Uber Eats, and DoorDash.This consolidation powered unprecedented growth in the industry.
A Watershed Moment for Food Service Delivery Apps
However, the pandemic put these food service applications on ice for several years. Innovative start-ups entered the market in the interim, providing consumers with myriad benefits, choices, and cost-cutting initiatives. Between all the noise, a host of restaurant discount apps began making their names known. These are now a dime-a-dozen, with a select few retaining ranking status in the industry.
For example, consumers can easily download and install top-tier cash-back apps to benefit from routine purchases like gasoline and food. The ranking providers of such services provide additional benefits including the participation of at least 50,000 participating restaurants, grocery stores, and gas stations. For consumers, these all-in-one solutions pack a punch. They provide substantial cash back over time, with many valuable benefits.
With so many people well-versed in app utilization, it was always only a matter of time before smart shopping apps delivered on expectations. For example, the premier apps are fully compatible with various banking services for making payments, including PayPal, debit or credit cards, and bank transfers. Plus, the reward systems for app-based purchases of groceries and restaurant orders come in actual cash – not rewards points or airline miles.
Actual customer feedback from one of the ranking cash-back apps:
‘I love this app! It allows me to have a small savings account that builds up money over time from doing things like fueling up my vehicles. … Thank you for helping me save money.’
The focus has shifted from traditional restaurant, grocery, and gas purchases via traditional shopping apps to consumer-centric intelligent solutions designed to reward recipients with cost-saving benefits over time. Businesses benefit from these systems by listing their products and services alongside others for a more competitive, customer-focused, market-driven shopping experience. SMEs are eager to partner with such applications, given the enhanced customer loyalty benefits and repeat business they provide.
Fast Facts About Food Delivery Services Worldwide
Food delivery services and smartphone-based food shopping apps are booming businesses with multibillion-dollar revenues globally. China leads all other countries in this domain, with $46.6 billion in food delivery revenue in 2023. Next in line is the United States, with $17.9 billion in food delivery revenue in 2023.Europe is third, with total revenues of $9.8 billion in 2023. The United Kingdom is a heavy hitter in this regard, with $6.5 billion in 2023, followed by Southeast Asia at $5.7 billion in 2023. South America is next to last at $3.2 billion in 2023, and India weighs in at $2.3 billion in 2023
*Information provided by The Information, Daxue Consulting, Company Data, and Bloomberg.
Notably, the projected size of the food delivery market between 2024 – 2030 reveals astronomical growth forecasts. Based on data provided to the Business of Apps, total projected values through the end of 2024 are $112.48 billion. In 2025, that figure is expected to grow to $126.3 billion, and in 2026 to $140.6 billion. Fast forward to 2030, the projected food delivery market size is $213.44 billion.
Cash-back apps – like other popular apps -are making a big splash in the food service industry, and with gas stations alike. The growth of these services mirrors the unprecedented uptick in food delivery services. Consumers figure that smartphone or tablet-based restaurant, and grocery purchases should factor in economic conditions, particularly in an era where out-of-control prices make shopping around necessary. A combination of suppliers competing for business, and consumers being rewarded with real cash back creates a win-win for the entire industry. Fortunately, it’s the stakeholders up and down the value chain being rewarded.
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