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An Uber Eats delivery employee. Photo: Akio Kon / Bloomberg via Getty Images

Delivery apps may put your favorite restaurant out of business, per The New Yorker's Elizabeth Dunn, writing in the "Annals of Gastronomy."

The big picture: Brick-and-mortar retailers have been clobbered by the rise of e-commerce giants like Amazon. Delivery apps could prompt a similar implosion in the restaurant business.

  • "In 2016, delivery transactions made up about seven per cent of total U.S. restaurant sales. In a research report published last June, analysts at Morgan Stanley predicted that that number could eventually reach forty per cent of all restaurant sales, and an even higher percentage in urban areas and among casual restaurants."
  • "Companies like GrubHub maintain that the revenue they bring restaurants is 'incremental' ... exposing potential new customers who might convert to lucrative in-restaurant patrons."
  • Why it matters: "[A]s consumers use services like Uber Eats and Seamless for a greater share of their meals, delivery orders are beginning to replace some restaurants’ core business instead of complementing it."
  • What's next: At Sweetgreen, 40% of orders are "placed for pickup through a proprietary app, and the company is about to pilot a delivery service."

Go deeper

Ben Geman, author of Generate
7 mins ago - Energy & Environment

Exxon says it's well-positioned amid investor pressure

Illustration: Aïda Amer/Axios

ExxonMobil said Wednesday that its oil-and-gas development plans will create good returns even at modest oil prices as the company looks to win back investor confidence after several rocky years.

Driving the news: The company, just ahead of an investor presentation this morning, said its investments are designed to generate returns of over 30% and touted its spending reductions.

23 mins ago - Technology

Google says goodbye to individual user tracking

Illustration: Sarah Grillo / Axios

Google made clear Wednesday that after it finished phasing out third-party cookies over the next year or so, it won't introduce other forms of identifiers to track individuals as they browse across the web.

Why it matters: The move comes amid increased scrutiny over the way tech giants use consumer data to reinforce their dominance, particularly around personalized advertising.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

The Fed could be firing up economic stimulus in disguise

Federal Reserve governor Lael Brainard at a "Fed Listens" event. Photo: Eric Baradat / AFP via Getty Images.

Even as global growth expectations increase and governments pile on fiscal spending measures central bankers are quietly restarting recession-era bond-buying programs.

Driving the news: Comments Tuesday from Fed governor Lael Brainard suggest the Fed may be jumping onboard the global monetary policy rethink and restarting a program used following the 2008 global financial crisis.