Overall, Deliveroo produced a strong operating performance in Q3 2021. Gross transaction value (GTV) increased to £1,594 million, up 54% (58% in constant currency) year-on-year. Growth in monthly active consumers and orders continued to be healthy, up 56% and 64%, respectively. Taking a two-year view, orders in Q3 2021 increased by 171%, similar to the 172% two-year order growth achieved in H1 2021 – demonstrating that growth momentum has been maintained despite the easing of lockdown restrictions in most markets. In Q3 2021, GTV per order decreased by 4% year-on-year in constant currency, with average order values continuing to revert towards pre-COVID levels.
Deliveroo manages its business on a geographic basis, rather than on a product or market segmentation basis. The company operates in two segments: the UK and Ireland (UKI) segment and the International segment, comprising the remainder of the company’s markets.
Deliveroo’s consumer base continued to grow compared to prior years, with an average of 7.5 million monthly active consumers in Q3 2021, up 56% compared to Q3 2020 and up 142% compared to Q3 2019. The decline in average monthly active consumers in Q3 2021 compared to Q2 2021 reflects typical seasonality, especially in European markets. Despite the widespread removal of lockdown restrictions in Q3 2021, the monthly average order frequency remained stable at 3.3 times per month.
Following growth in H1 2021 that was materially ahead of expectations, trading in Q3 remained strong. While mindful of current and potential macroeconomic disruptions and uncertainties, management expects further strong performance in the remainder of the year. As such, Deliveroo is increasing full-year GTV growth guidance.
Will Shu, Founder, and CEO of Deliveroo said, “we have continued to make good progress executing against our strategy, resulting in a strong performance in Q3. This quarter we have partnered with Amazon to offer their Prime customers in the UK and Ireland access to our Deliveroo Plus subscription programme. We have also successfully launched a new rapid grocery service, Deliveroo Hop, in partnership with Morrisons. These are just two examples of innovations introduced this quarter that are consistently improving our consumer value proposition. While we are mindful of current and potential macroeconomic disruptions and uncertainties, we expect further strong performance in the remainder of the year and we are increasing our full year GTV growth guidance. We remain excited about the opportunity ahead and our plans to deliver better value to our consumers, help our restaurant and grocery partners to grow, and provide further opportunities for riders.”
