Revenue boom of Online Food delivery industry amidst Pandemic: Evidence from the Philippines

Abstract

Eating out in our favorite restaurants is one of the things we enjoy doing. It can be our way of connecting to others, try some new dishes, and celebrating important events with family and friends. Although dine-in is currently close as preventive measures to the COVID-19 virus, they can still operate take-out or delivery option so that people can still order their favorite comfort food and eat at home style. The health crisis brought by the novel coronavirus force millions of people to stay at home, food delivery demand has risen to prominence. According to StockApps.com, globally the online food delivery market is expected to hit $151.5bn in revenue and 1.6bn users in 2021. It is expected to reach almost two billion globally in the next three years. Consumers turned to online food delivery as alternative to buy in stores and restaurants. The online food delivery is keeping the food industry alive, by trying to mitigate food business from shutting down.