With the pandemic shuttering thousands of businesses in 2020, the food industry rolled back the clock, turning to a trend made popular in the 1960s to save it…
It may be the most revolutionary change in the food business in decades, creating an unprecedented boom in this projected $154 billion industry.
And it led to one of the biggest IPOs of the year, with DoorDash coming to market in a $71.3 billion IPO.
Since strict limits have been placed on indoor dining, restaurants are seeing nearly a 50% drop in customers dining in this year.
In 2020 alone, over 100,000 restaurants have been forced to shut their doors.
That’s nearly 1 in every 6 restaurants in America closing up shop, leaving over 3 million unemployed restaurant employees.
But while it’s hit many restaurants hard, others are surviving thanks to a booming trend…
One that’s already taken off in recent years and is now catapulting to new heights.
It’s the trend that started nearly 60 years ago, when Dominos made the promise of delivering food to your home in “30 minutes or less.”
But now that’s spread to thousands of restaurants, all fueled by the food delivery companies making up a projected $154 billion industry by 2023.
That’s why CNN is saying, “The pandemic boosted food delivery companies.”
The New York Times is saying, “Food delivery apps are booming.”
And Marketwatch is saying, “The pandemic has more than doubled Americans’ use of food delivery apps.”
This meteoric rise in the food delivery industry helped DoorDash catch the attention of major investors everywhere earlier this month with their IPO.
Most folks know them as the eco-friendly ridesharing company…
But they caught onto this food delivery trend early this year, as they saw…
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