AMSTERDAM/NEW YORK ¨C When food delivery service Grubhub struck a deal with Amazon earlier this month, offering Prime customers a year¡¯s free delivery, shares in rivals slumped.
The deal ¡ª a lifeline for Grubhub that will increase pressure on its competitors ¡ª was the latest example of a meal delivery company taking action to revamp its business in preparation for an anticipated downturn.
The loss-making food delivery sector was one of the big beneficiaries of the COVID-19 pandemic, but that effect has waned as consumers ¡ª faced with surging prices ¡ª have started to cut back.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.