Stock Groups

DoorDash Gains as it Adds Alcohol On-Demand to its Marketplace   By


© Reuters

By Dhirendra Tripathi – DoorDash stock (NYSE:) rose  0.5%, but had traded higher after the company added alcohol on-demand to its marketplace.

Customers in 20 US states and District of Columbia now have the option to order alcohol on-demand from thousands of grocery stores and restaurants. It will be made available to customers in Australia and Canada, expanding its reach to more than 100 million people worldwide.

DoorDash claimed it had created an alcohol inventory that could be bought at restaurants or retailers. DoubleDash has been launched in certain markets, allowing customers to combine alcohol and their meal at restaurants with certain orders.

DoorDash’s note cites a Nielsen report which shows that alcohol is the most popular e-commerce category for all packaged goods. According to the Nielsen report, 56% would purchase alcoholic beverages as part of a food delivery service from a restaurant.

DoorDash continues to expand its business verticals in order to generate new revenue streams. The company has made agreements with Albertsons, the grocer (NYSE:) as well as PetSmart for pet foods and products.   

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are put together by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.