I think in the last year, I think your sales and marketing as a percentage of revenue dropped by something like 1,000 basis points. And as a result, what you see in sometimes third-party delivery is a product that is more expensive than what someone would pay inside the store. With DashMart, one of the things that we've been studying very closely is why do certain industries get penetrated. You can schedule specific reports to be sent to your inbox on a weekly or monthly cadence. On the DashMart question, I think it's important to start with like what we're doing and why we're doing it. People eat. You must be an existing DoorDash partner and have either an Admin or Manager level credential for your Merchant Portal login to use the app. But dasher account? Price as of December 7, 2022, 4:00 p.m. Some coupons for restaurants are only available online and some are only available in stores. You can download the Business Manager app on the Apple App Store or Google Play Store. We also disclosed in the results that we saw our monthly active consumers grow, all-time highs in our DashPass membership program. And what that points to is the fact that this is an enduring category. Thanks for taking the questions. But interest rates have gone up a lot in the last like three to six months. And so what you're seeing is order rates of those who joined after the pandemic have largely resembled those who joined during the pandemic. I just spent 45 minutes in a "support" chat, and they couldn't even give me a working link to login to a dasher account. It's not -- there's no single silver bullet. While foot traffic alone was once the primary driver of restaurant visits, today, digital is king. WebReady to Test Drive Whether You Chose a Demo Store to Preview, or Created Your Own Store, Experience the Aldelo Express Ease and Simplicity If You Have Any Questions, Please Contact Our 24/7 Product Support at 877-639-8767 or Send Us a Note I think it's just as easy to overinvest when "times" are good even though you're not seeing the signal that you want to see. Your philosophy is very clear, and it makes a lot of sense. If you're looking for restaurant promos that are easy to take advantage of, check out Pizza Hut. To maintain a steady stream of revenue and stay ahead in the industry, restaurants must adapt to these changes in consumer habits. 582 people have engaged with a restaurants discount. You can use discount codes to order online, get free products if you sign up to the company's email newsletter and take advantage of in-store rewards, all without the need to present physical restaurant coupons. Can you help us better understand how you see moving the needle from where your market share position is today to more of a market-leading position in the next couple of years? Thank you, everybody, for joining us today. Get notified when a new deal is posted. It's about how can we also invest with discipline according to the stage of the projects. Even despite the fact that you've had restaurants reopening, cities reopening, people going back into the store, despite that and through that, our business has continued to grow. But obviously, if we're not -- if it puts pressure on the consumer, which is, I think, the point that you're going toward and we're not seeing signal in some of these investment areas, then we certainly would pull back, and invest accordingly. If the weather forecast is bad in your area, try emailing customers with special delivery promotions and freebies to keep sales (and spirits) high. And if I could, I'll just add a bit to this before heading into the DashMart question, which is -- I think one of the things I'm most proud of the team for accomplishing is that in the last two-and-a-half years, even though we stated in the shareholder letter, all of the growth that we've seen both top and bottom line in our business. And so a growing number of our new customers now are actually coming to DoorDash to try these new categories, and this is going to unlock the next leg of growth as we continue increasing our penetration of the U.S. population. Basically, DoorDash announced that all U.S. delivery drivers on their platform are eligible for 10% cash back on gas when using a prepaid business Visa debit card, even when they are using it for personal gas purchases when not using the platform. Monitor a Dasher's location, access 24/7 support, mark items out of stock, update store hours, get analytics, and more from the app. And that's really what we see. So hopefully, that provides some perspective on how I think about growth on a go-forward basis. So maybe you could comment on those. WebDelivery & takeout from the best local restaurants. And so how did that happen? Prabir Adarkar -- Chief Financial Officer. Keep your social media channels current by posting regularly and promoting your delivery services. Dashers are putting more hours into our platform. Make real-time changes to your DoorDash store from your phone, tablet, or computer. And so all that to say that when you look at our consumer metrics in Q3, as well as now in October, consumer metrics continue to remain strong. *Stock Advisor returns as of September 30, 2022. But if we sort of walk into a scenario where in '23, you potentially have a weaker consumer in the U.S. or Europe and maybe your more cash flow generative U.S. business decelerates or has some impact from macro. when your driver goes on an hour long drive to make a 20 min delivery and drops the now cold food at the wrong unit in our building, don't go back to the restaurant we ordered from and ask them Is there anything to read into that? Any tips left by the customer will 100% be passed to the Dasher. WebDoorDash is a technology company that connects people with the best of their neighborhoods across the US, Canada, Australia, Japan, and Germany. We disclaim any obligation to update any forward-looking statements, except as required by law. A: The Top Dasher program is our way of recognizing and rewarding the best Dashers! Order frequency has grown year on year. And then on your question about other markets above 7% and so on and so forth, I just wanted to remind everyone on what we've said historically, which was we don't operate our business to a target margin, but rather we aim to maximize total profit dollars. And it's really measuring and managing all of these inches that, I think, has given us the compound interest and advantage that you've seen now accrue over the last two-and-a-half years. Yeah, Doug, and on the question regarding regulatory and what we're seeing, we're largely seeing pretty much exactly what we would have expected. Stay social. Sure. Your line is open. We've just started the DashMart business really a couple of years ago. And given a small amount of penetration in these markets, there's a lot of GMV that can convert our free cash flow. Youll have the opportunity to blaze a new path for industry-defining work, and the satisfaction of achieving goals you set for yourself. Sign up for DoorDash and maximize your food delivery service with minimal effort. Anything about the need for extra side hustle that's maybe led to bring in more Dashers? You can save money on restaurants by applying one of the current restaurants coupon codes we have listed on our site or by using one of the restaurants deals we have listed on the page. My name is Heather, and I will be your conference operator today. Is it maybe less spend on the U.S. restaurant category, where you obviously dominate? And so you see the impact of that, by the way, in our Q4 EBITDA guidance. The first point, which we've made in the past is these markets that were attempting to expand into, whether the new categories or international, these are large trillion-dollar market and even a few points of penetration in these large markets could add massive scale to our business. Below are the most commonly used functions: And you can give consumers the option to forgo plastic cutlery in favor of a reusable set they have at home. And in spite of, I think, all of those ups, downs, sideways with some turns, our business has grown fourfold the U.S. marketplace business. And so as long as we're seeing product market fit signals, we'll continue to invest. Following a bumpy launch week that saw frequent server trouble and bloated player queues, Blizzard has announced that over 25 million Overwatch 2 players have logged on in its first 10 days. Once we see that, we continue investing. And so I do think that some of this might just be where there's some unreliable third-party reporting. Experienced Dashers that have qualified for DoorDash Drive will be able to sign up to see these delivery opportunities while dashing. About Us Careers Blog LinkedIn GlassDoor Accessibility. On your question on insurance, actually, when you look at our insurance cost in Q3 versus Q2, as a percentage of our GOV, our insurance costs were flat. Thanks a lot. And particularly in the third dimension, affordability means -- to us means reducing friction that's caused by consumer fees, whether it's through DashPass or the non-DashPass product. Yeah, I mean, I think the investment philosophy has been largely consistent with what we've done. And so when I think about what we are today, the biggest thing that I've been thinking a lot about is how do we actually make sure we continue to stay disciplined about investing commensurate to the stage of those projects. Based on this information, you can adjust operations, introduce or phase out menu items, and develop a targeted marketing strategy that will attract more repeat customers and create a steady stream of revenue. With respect to investing, frankly, in any environment, whether we're talking about a low-interest rate environment or a high-interest environment, we're obviously taking that as one input into how we make investments. First off, DashPass, I was wondering, is there any flexibility or room to increase your fees given your expanded offering and value proposition to customers? Top Dasher . I was wondering if you can kind of unpack that a little bit for us in terms of where is the efficiency coming from. And how do you think that potentially informs elements of some of the more mature markets seeing only two or three players in some instances going after some of the market opportunities where it was just a couple of quarters ago that there was a lot of private capital in the sector looking at all different aspects of delivery and some of that has been more rationalized over the last couple of quarters? And, Doug, just to -- thank you. And so we have a right and an expectation to able to generate a profit in the markets we operate in. Since potential customers will most likely find your restaurant online, it makes sense to focus on improving local and national search engine rankings as part of your marketing strategy. Thanks for taking the question. In the era of COVID-19, food delivery has evolved into a powerful way to support local businesses, while remaining safe through contactless options. For example, I drive a different car now than when I started 2 years ago, but I can't change that in the app. WebPartner with DoorDash to drive more sales on the app and through your own website. So first on the marketing efficiency point, I just want to go back to some of the comments that we had shared when we went public back in the S-1, which is once you've acquired a cohort and the cohort sort of gets into its second, third, fourth year of life, the marketing spend associated with that cohort declines. And one of the things that we've seen so far is that the setup for third-party delivery in a lot of these non-restaurant categories isn't really optimized for delivery. But in addition, we've actually made certain product improvements that have enhanced the retention of our existing fleet of Dasher and also an incremental supply hours from each Dasher. And the third-party convenience business is a category leader as well as a variable profit breakeven. There is leverage on CAC, but particularly in '22 compared to '21, there's been a lot of leverage in terms of our Dash acquisition costs, and that's been driven by product improvements that we've made. I mean, Wolt operates in markets that have 300 million people, right? The retention of our fleet has gone up. ET, DoorDash, Inc. (DASH) Q2 2022 Earnings Call Transcript, DoorDash, Inc. (DASH) Q1 2022 Earnings Call Transcript, DoorDash, Inc. (DASH) Q4 2021 Earnings Call Transcript, DoorDash, Inc. (DASH) Q3 2021 Earnings Call Transcript, DoorDash, Inc. (DASH) Q2 2021 Earnings Call Transcript, 3 Supercharged Growth Stocks With 393% to 1,153% Upside in 2023, According to Wall Street, Want $3,000 in Dividend Income Next Year? DashPass, on the other hand, is higher retentions we've talked about in the past, and the user behavior for DashPass continues to remain strong. And all of that basically establishes a foundation for solid growth, not just in Q4, but into 2023, and that's what we're really seeing in the results. And then when you look at what they say and we look at -- take Proposition 22 as an example, Dashers preferred -- 87% of Dashers preferred staying as independent contractors. Historically, what's happened is we've taken the majority of those profits and we have reinvested them in these investment areas. We may get paid by brands or deals, including promoted items. Subscribe for insights to help you run a great business, delivered weekly to your inbox. According to recent research, the rise of food delivery has become a major trend among consumers across all demographics. Great. In less than an hour, you can easily create a ready-to-use Storefront link to immediately add to your website and start accepting orders. The Motley Fool has positions in and recommends DoorDash, Inc. And you're seeing the resilience of that habit in our numbers. So on the EBITDA point, so I think we said in our letter, we expect that the U.S. restaurant business will continue to grow in 2023 and will increase its contribution profit, both in dollar and margin tops, right? We've seen regulatory pressures with the likes of Prop 22. And so for me, it's really, again, about keeping that discipline even though we've gone from one business now to five businesses. Can I schedule DoorDash sales, operations, and financial reports to send to my inbox? And as a result, that means we need to acquire fewer Dashers to perform -- to actually to fulfill the deliveries that are happening on our platform. I'm pleased to be joined today by Cofounder, Chair, and CEO Tony Xu; and CFO Prabir Adarkar. Andy Hargreaves, you may begin your conference. Food delivery platforms are an easy way to improve the customer experience thanks to a simple ordering process and speedy delivery of your quality food to their doorsteps. 90% of customers conduct online research before choosing a restaurant, businesses typically earn more revenue from repeat customers. Q: What is the Top Dasher Program? WebA place where you can easily find solutions and ask questions After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. So it's hard to sit here and say that Wolt is not gaining share just given the disparity in growth rates versus relying on third-party data and issues with their approaches and so on. In order to capitalize on the rise of food delivery, you may wish to tailor your menu to current culinary trends and introducing items that travel especially well. In the last 20 years, Slickdeals has saved online shoppers over $6.8 billion. Yeah. With Restaurant.com in particular, you can score gift certificates at up to 85% off, meaning you don't need a lot of money to eat at some of the most popular dining establishments in your area. And that benefit has been turbocharged by product improvements that have now improved the retention of the fleet and is actually generating incremental supply hours from existing Dashers. Slickdeals is the eighth largest online shopping destination in the U.S, Get great savings and deals at your fingertips by downloading our. You can see reviews and star ratings from your customers, as well as which customers are new to your DoorDash store or returning. You should not rely on our forward-looking statements as predictions of future events. And perhaps the greatest benefit: it takes the logistical burdens of coordinating delivery software, processes, and personnel off of your plate. Q3 margins are better than Q2. I won't declare a winner yet. So I view an increase in subscription fee at DashPass as being something that would actually slow down the pace of DashPass adoption which we've been very happy with so far. An interface like DoorDash lets you input options like ordering extra sauces, swapping one protein for another, or upgrading a side dish. What are some of the levers you most focused on executing against? Today, we have over 75,000 partners outside of restaurants, which is more than any other platform in North America, again, from almost a standing start a couple of years ago. So that's what we see kind of currently. WebYes, the Merchant Portal is your destination for DoorDash data (orders from your store at doordash.com), Storefront data (orders from your store at your own website) and Drive data (orders dispatched to DoorDash drivers). Some deals may require you to purchase something, while others may need a minimum purchase amount or require that you eat in. Two questions, please. And that means that if for one reason or another, we're better served by pulling back on the investment because we're not seeing the right signal in terms of consumer demand because we're not seeing the right improvement in terms of unit economics or whatever, we can alter the pace of the investment. But these investments are discretionary. And these markets are -- have low levels of penetration. Great. $50 Chuck E. Cheese Gift Card + $15 Gift Card for $50 @ Chuck E. Cheese, $50 Buffalo Wild Wings Gift Card for $45 (Best Buy), Culver's holiday gift card deal. We've gained an extra 14 points of category share even as the market leader heading into the pandemic, and we've kind of extended that lead. Dont be afraid to get creative delivery opens up whole new avenues to connect with your customers. 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You can also build your own reports, filtering for specific metrics, timeframes, and products: Sales report: Includes Marketplace, Drive, and Storefront sales, average ticket size, new and return customer comparison, total orders, DashPass orders, Pickup orders, and more, Operations report: Includes order accuracy, cancellations, wait time, downtime, ratings, and product mix, Financials report: Includes transactions, error charges/adjustments, and payouts. That last quarter, you had said the increased annual EBITDA by a modest amount. WebHow can I get access to the Drive portal? That's very helpful. If youre looking for a place that will define your career and help you grow beyond what you thought possible, come build with us. You will have 7 days after receiving the invoice to submit a payment WebHow we estimate There isnt a strict mathematical formula at work here. They don't always get exactly what they want when they actually buy it, and it doesn't always show up faster than a consumer can shop on their own. And I'm not sure that there's ever been a "letdown" in terms of competitive intensity. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. In terms of their activity, the average Dasher, and we're talking about 3 million Dashers every quarter, Dashers are working fewer than 4 hours a week on average, 90% of Dashers work fewer than 10 hours a week. And third-party convenience, we expect to get to a variable profit breakeven by the end of this year. Merchant Portal : Merchant Portal Login Landing Page: Submit your request in the Merchant Portal. Two popular places to find restaurant codes and deals are Groupon and Restaurant.com. If you do have a coupon that has to be redeemed, take note of the validity period to ensure that the offer will still be active when you plan to head out. The only caveat I'll make is we continue to remain in investment mode, and so I'll change this approach if we identify attractive growth opportunities. On the second question, I think one of the things that -- and I'll let Prabir kind of talk about some of the details and specifics with respect to the contribution margin disclosure. Based on the latest food delivery trends, heres how your restaurant can evolve and remain financially stable in any economic climate. Finally, this call in its entirety is being audio webcast on our investor relations website. I mean, the goal of DoorDash was always to build the largest local commerce marketplace and the largest local commerce platform in an effort to make sure that every physical business can be successful as they move into the digital economy. Another incredible restaurant offer comes to you from Olive Garden: a few times a year, you can buy one entree to enjoy in the restaurant and get a second to take home at no cost! 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Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 10 stocks we like better thanDoorDash, Inc.When our award-winning analyst team hasa stock tip, it can pay to listen. The business is holding on great so far. I mean, remember, our core U.S. restaurant business is growing and generates significant cash flow, right? They also look on Instagram, Facebook, and other social media channels and make decisions on what and where to eat based on their food preferences and budget. Or is there like a natural limit to how high that could get? DoorDashs Merchant Portal, a free service included with a DoorDash partnership, allows you to explore detailed sales reports for specific time periods and understand the habits and preferences of both new customers and your loyal regulars. May 27, 2022; Merchant Portal Photos Guide Nov 14, 2022; Can I add tobacco/alcohol products to my DoorDash menu through our self-serve menu features? As customers require greater convenience in their daily lives (and access to good food), the demand for food delivered fresh will only continue to grow. Just as a general philosophy, we're trying to improve selection quality and affordability. But I would still say the primary input, especially as we look into some of these investments into newer areas, whether it's overseas or into other categories or into new business areas, it's really, are we investing appropriate to the stage of the project? WebDoorDash Drive Payment & Invoicing Jump Section: How will I receive my DoorDash Drive invoice? [Operator instructions] OK. And your first question comes from the line of Ross Sandler with Barclays. Obviously, the restaurant delivery industry, even though, again, it has a large runway for growth, it has reached a certain level of penetration that something, say, grocery delivery or retail delivery or delivery from other types of stores has only reached a fraction of. Your line is now open. And so I think I'm really proud of the team for being able to operate in such volatility. According to a survey by the National Restaurant Association in the U.S., more than 60% of Millennials in the U.S. want restaurants to use technology to make ordering takeout and delivery more convenient. Any color on what's taking that north of 7%? The seller would also need to meet the minimum 1099-K thresholds of processing 200 transactions and $20,000 in gross volume. Sorry to ask you such a precise question, but I just want to make sure we're not missing any nuances. Invest better with The Motley Fool. For urgent large order delivery issues, please call (855) 811-7299. WebWe would like to show you a description here but the site wont allow us. Get restaurants deals now. And then secondly, Prabir, your comments about '23. Whether you are going to a favorite restaurant, the drive-thru or enjoying a home-cooked meal, you may be able to get discounts just by using a credit card for your purchase. Thanks, Heather. We had committed to this earlier on in the year, and we're on track to deliver on that commitment. You will need to specify: The name of the restaurant; Store addresses; An email address that is not currently used to access another DoorDash Portal account such as the Marketplace Merchant Portal. But I think when I take a step back of what has happened in the last two-and-a-half years, obviously, there was a pandemic. Yeah. Qualifying Dashers will receive special benefits to recognize their drive to go above and beyond for DoorDash customers. Based on this information, you can adjust operations, introduce or phase out menu items, And so practically, what that means is we will flex margins that increases total profit dollars. Your final question comes from the line of Mark Mahaney. But just to add to Tony's comments there, obviously, in some cases, this regulation introduces new cost into the system. I'll start with the first one and answer briefly the second and hand it off to Prabir. WebWhether you are going to a favorite restaurant, the drive-thru or enjoying a home-cooked meal, you may be able to get discounts just by using a credit card for your purchase. Please have your store name, customer name and delivery ID ready to help the support team locate your order. Let Us Help You. Congrats on the quarter. And also on DashMart, can you guys talk about the pace of investments in there in terms of new stores and geographic expansion? If you're a fan of fast food, check out the apps for popular places such as McDonald's, Burger King and Wendy's. DoorDash integrates with leading point of sale and technology systems to help you accept and fulfill orders, sending them directly to the kitchen. And so that's what we're doing with DashMarts, too. Or is that driver efficiencies? First, maybe taking a step back in a bigger-picture question. Taking your family or friends out to eat can be stressful if your wallet isn't up to the challenge. And just to add to Tony's comments, Bernie, let me share a couple of data points that give us excitement and conviction around these investments. WebOrder tacos, burritos, salads, bowls and more at Chipotle Mexican Grill. Yes. But for me, all that suggests is just it's going to put pressure on our execution. You can rent a tablet from DoorDash or purchase your own Android tablet and download the DoorDash Order Manager app from the Google Play store. And so what we've seen is outside of a handful of cities, and it's been the same count of cities that have, I would say, frankly, perhaps abuse their power and are trying to overregulate the industry, by and large, I think lawmakers, regulators, anyone in policy that we've spoken to has been very productive in terms of making sure that we can serve Dashers together. Your next question comes from the line of James Lee. WebIf you are an existing DoorDash partner, log in to your Merchant Portal to sign up for Storefront. Temporarily pause your store if your kitchen is getting too busy. What I'm really proud of is that in achieving all of that for the platform, we've been able to increased earnings for Dashers, increased sales for merchants, and reduced fees on a continued basis over the last two-and-a-half years for consumers. When you look overseas, we're a much lower percentage than that. states in the U.S. with marketplace facilitator laws. You will need to specify: The name of the restaurant; Store addresses; An email address that is not currently used to access another DoorDash Portal account such as the Marketplace Merchant Portal. And our investments into both our non-restaurants category, as well as our non-U.S. operations, I think, are really bearing fruit. And so we like what we see in terms of product market fit. WebHow can I get access to the Drive portal? Great. But what I would say is both the instruction I give to our U.S. teams or our teams overseas, it's making sure that we continue making sure to invest in the product quality so that we see gains in our retention and order frequency, which only leads us to compound that advantage over time, whether that's as the market leader or whether that's someone just entering the market. Only two of the last 60 years have we seen a decline in food spend in the U.S., and that's specifically in the restaurant and grocery industries. To use a restaurants coupon, check the store coupon for product exclusions, copy the related promo code for restaurants to your clipboard and apply it while checking out. POS integrators and partner merchants continue to have visibility into taxes, delivered through the order payload and the same fields - but these taxes will now be collected and remitted by DoorDash. And the size of those investments now have built a business that's larger than all of DoorDash just a few years ago. And so our belief is, in addition to working with all of these fantastic partners who we're really, really privileged to work with, whether it's Sprouts Farmers Markets or Giant Eagle or Loblaws; or in retail categories, people like Dick's Sporting Goods or Sephora, is that we want to start by working with them to really understand how can we bring incremental demand right out of the gate, but we also want to invent the future of the industry. And we've been very disciplined about that, whether it's been our entry into other countries or our foray into other categories beyond the restaurant category, our build-out of the advertising business. The disclosure on U.S. restaurant contribution margin is very helpful. Breakfast, lunch, dinner and more, delivered safely to your door. They may modulate their behavior and adjust from which restaurants they're eating at or the number of items in their basket and so on, but they still eat. Have a good evening. So with that, Heather, please open the line to the first question. Thanks. Your next question comes from the line of Youssef Squali. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Your market efficiency has gone up tremendously. The main takeaway from these food delivery trends is that convenience is the most important factor for consumers opting for food delivery with supporting local businesses being another motivator. And so our performance is a function of the fact that we've built a product that people like and keep coming back to, i.e., better retention and growing order frequency. And second, on the Wolt, maybe just help us understand the acceleration in GOVs there. As a result, some of these stores don't even know exactly what's on the shelf. Thank you. An audio replay of this call will be available on our website shortly after the call ends. And that's been -- and because of the product improvement that we've made, we expect that to continue benefiting our cost structure in Q4 as well as 2023, provided there's no shocks of the labor environment. Dasher Support. Your line is now open. And so both of those things means you just don't have -- you don't need to acquire as many new Dasher. Jul 18, 2018; How can I receive my weekly pay statements? So that, coupled with the fact that the retention in the Wolt app is super high and order frequency continues to increase as the macro point that people like eating, people like the convenience of food delivery, and therefore, they only end up increasing the utilization of the product, the combination of these two things has helped them drive the results that you're seeing. WebFor large order fulfillment/catering orders, please contact merchant-drive-support@doordash.com. Qualifying Dashers will receive special benefits to recognize their drive to go above and beyond for DoorDash customers. It also provides useful customer data for your restaurant, which you can analyze for food delivery trends and patterns and subsequently inform your marketing strategy. The massive rise of delivery services points to one key thing: the future of food delivery is bright. WebA delivery is considered late when the amount of time taken to travel to the merchant and/or to the customer (e.g., 20 minutes) exceeds the estimated time, taking into account factors outside of your control (e.g., wait time at merchant). It continues to remain the largest paid membership program in the food category. You can view the exact tax amounts DoorDash has remitted when downloading the payout transaction details in the Merchant Portal. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. Anything you'd call out on the supply side? Its important to keep your website and marketing channels up-to-date with relevant information and post regularly so your momentum continues. Yeah. And then the second question is -- thanks for the chart on contribution margin for the U.S. restaurant. So the labor environment -- it's a long story short, the labor environment has resulted in all-in national costs being better today. Your next question comes from the line of Bernie McTernan. Learn more about order protocols. We have a dedicated team that works around the clock to find, post and verify the offers we present to consumers. Now that said, just like with all investments at DoorDash, it's not just about the long-term strategy of how can we maximize long-term profit dollars. Historically, in the last 60 years in that time frame. Hey, Ross. But maybe given that it's one of your oldest business, how should we think about the growth of it right now? What impact has lower competitive intensity played in the industry over the last six to eight months? James Lee -- Mizuho Securities -- Analyst. If you provide an external_store_id, you must also provide an external_business_id. And I mean, I think even when I think about the last 10 quarters, basically from when we've become public to where we are now, what we outlined in the S-1, we've kind of just continued marching toward that drumbeat of telling the narrative of how we want to be the local commerce company, both building the largest local commerce marketplace, the largest local commerce platform and how we're making investments in toward doing that. There's a lot of concern that core U.S. restaurant marketplace is maturing. And we believe the future in the industry has to offer a product that is going to be -- give customers exactly what they expect when they order at around the same prices of what they pay in store and certainly with greater convenience than they could do it on their own. Maybe you can help address that at least qualitatively, that would be great. Drive engagement by reposting user-generated content on your profiles. Get restaurants deals now. Eliminate in-house delivery costs and the hassle of logistics, and pay a flat fee per delivery. The preferred payment is by credit card or other contactless payment, making third-party food platforms an appealing choice for many customers and businesses alike. So it's down not only on a percentage basis but even on an absolute basis. And so far, we like what we see. I think the answer to both of those questions to that it's a very competitive industry out there. Maybe I can start. In the U.S. business, you've seen continued growth north of 25% GOV, on the marketplace revenues north of 30% growth each -- for each of the last five quarters now. And we're doing that here in the United States, we're doing that overseas, and that's really what DashMart is. And just add one more comment to that, Deepak, which is I'll go back to my comment about the size of these markets, right? It's Tony. And so -- and DashPass certainly has been a big part of that on the consumer front. But what I will say is the following, which is our level of penetration even in the U.S. remains small, whether it's a percentage of overall restaurant sales or a percentage of the population that are actually using DoorDash were a small portion of the overall opportunity, and we continue to grow. We talked about new categories. Not all restaurant deals work the same way, which means you must pay attention to instructions on how you can redeem coupons and avail yourself of promos. But I think the way that we've been thinking about things is really looking at it from a historical current day and future perspective. Thanks for the question, James. Making the world smarter, happier, and richer. The standard pricing structure is a flat delivery fee paid by the merchant. WebFor U.S. Dashers: If you suffer an injury while making a delivery with DoorDash, you may be eligible for occupational accident coverage. 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With respect to, say, the DOL announcement that was made recently, it doesn't change our business model or reclassify drivers. These deliveries can include catering or large group orders placed directly with the store. It's really optimized for going inside the store, for browsing. At this time, I would like to welcome everyone to the Q3 2022 DASH earnings conference call. So maybe I'll take both of those questions. Make changes to your DoorDash listing, including store hours, description, menu, banking information, and more. Now offering pickup & no-contact delivery. Use relevant promotions. If you are swiping to check out at the grocery store or you want to pay at a restaurant, you might as well get the best possible credit card rewards in the process. How do I get access to the DoorDash tablet? Second, we're seeing very strong signs of progress. Slickdeals strives to offer a comprehensive coverage of the best coupons, promo codes and promotions for thousands of different stores like DoorDash. And so we certainly like what we see. So we don't really expect any new changes versus what we've said before. So good progress in Q3. Youssef Squali -- Truist Securities -- Analyst. On your question on the contribution margin, I think your specific question was why our 2022 incremental is higher than the average of 7%. In fact, even in the oldest markets, Wolt adoption levels are less than 10%. Consumers are always going to expect more selection of stores they can order from, greater affordability, better quality of service and superior customer support. Great. Thank you. No, the Business Manager app is designed to complement your existing order protocol. We hit record highs in terms of our dashboard subscribers. And so this benefit in Dasher costs in 2022 has led to higher incrementals this year compared to the general average. And the objective we have in providing the incremental percentages, as well as the progression and contribution profit through all -- through COVID, through COVID reopening, through Prop 22, through inflation and all these factors was really to provide proof points on our execution and to provide visibility into our margin trajectory going forward. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and DoorDash, Inc.wasn't one of them! Please contact DoorDash at drive-support@doordash.com. So could you just talk about what are the biggest drivers of that? I think to me, whether we are the market leader or where we are not yet the market leader, it's really about an investment in product quality. So Mark, on the Dasher supply question, this is the point I made sort of through today's conversation around the labor market being more normalized this year than it was last year. So far, we've been pretty disciplined with capital allocation. Account Details Order History Help Have an emergency? Two questions, please. In 2018, Frost and Sullivan estimated the global food delivery service industry generated $82 billion in gross revenue and predicted that this number will more than double by 2025. Is that higher percent of repeats and getting some marketing efficiency out of that? The Business Manager app makes it easy to track orders and review performance, all from your phone. And are there markets that are in the double digits? Boosting your sales means proactively finding ways to appeal to your audience. So maybe just help us understand, again, sustainability of that as we go forward and maybe specific countries where you're seeing such a huge performance. It's not just what we're doing with the third-party business. Jun 28, 2021; How can I view my delivery history with DoorDash? And as Tony alluded earlier, we measure these things regularly to ensure that the steady progress is being made toward steady-state economics. These non-GAAP measures should be considered in addition to our GAAP results and are not intended to be a substitute for our GAAP results. And that's because, at least from where I sit, I believe the highest form of competition is always growing, and that's really consumer expectations. DoorDash, Inc. (DASH 9.21%) Q3 2022 Earnings Call versus merchant acquisition costs. I'll take the first one and then Tony can talk with a second. Yeah, James. And if you look at what we have done in the U.S. restaurant business, which we've laid out in great detail in the shareholder letter, it's about repeating those playbooks in these other areas. Available on our forward-looking statements, except as required by law you 're for. Manage your DoorDash store or returning you, everybody, for browsing where 's., please open the line of James Lee be able to generate a in. Take both of those investments now have built a business that 's maybe led to incrementals! 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