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This statistic highlights from Waitr Holdings’ Average Order Size, reported on a quarterly basis from Q1 2018 onwards.
Waitr Inc. is an online and mobile meal ordering and delivery service based in the United States. It began in Lake Charles, Louisiana, where Chris Meaux developed it with the help of McNeese State University.
What is Average Order Size?
Average order size, additionally referred to as common order fee, is the common sum of money a customer spends in a single transaction on an eCommerce store. It’s a crucial metric that may bring about multiplied profits, higher advertising ROI, decreased delivery rates, and greater possibilities to affect clients and appeal to them far from online marketplaces. The average order fee tracks the quantity spent every time a customer places an order on an internet site or cell app. To calculate the company’s average order size, divide general sales by the total number of orders.
|Period||Q2 2020||Q3 2020||Q4 2020||Q1 2021||Q2 2021||Q3 2021|
|Average Order Size||43.48||41.85||41.86||44.38||44.07||45.71|
(All figures are in thousands)
Waitr Holdings generates revenue mainly when customers place an order on one of the platforms. Their revenue mainly consists of transaction fees, including fees received from the restaurant (determined as a percentage of total food sales, fewer promotions, or customer refunds) and the restaurant fees charged when customers request the order to be delivered to their location. Revenue from restaurant orders is recognized when the order is delivered.
Waitr Holdings’ Average Order Size grew from $41.85 thousand in Q3 2020 to $45.71 thousand in Q3 2021, marking a 9.22% increase on a year-on-year basis. When compared on a quarterly basis, the revenue increased from $44.07 thousand in Q2 2021 to $45.71 billion in Q3 2021, making an increment of 3.72%.
In 2020, the average order size sharply increased from $39.05 thousand in Q1 2020 to $43.48 thousand in Q2 2020, marking an incline of 11.34%. Average Order Size then slightly dipped from $43.48 thousand in Q2 2020 to $41.85 thousand in Q3 2020, marking a decrease of 3.74%. This was followed by a slight incline in Average Order Size, as it rose from $41.85 thousand in Q3 2020 to $41.86 thousand in Q4 2020, accounting for an increase of 0.02%.
In 2021, there was again an increase of about 6.02%, as Waitr Holdings’ Average Order Size increased from $41.86 thousand in Q4 2020 to $44.38 thousand in Q1 2021. However, this was followed by a decline of 0.69% as it decreased to $44.07 thousand in Q2 2021. This loss was recovered as again average Order Size rose to $45.71 thousand in Q3 2021, registering a growth of 3.72% on a quarterly basis.
On an overall analysis of the past five years, it can be seen that the average order size witnessed several fluctuations in all the quarters of 2018. A similar trend followed in the year 2019 and 2020. It is evident from the fact that the average order size grew from $35.39 thousand in Q1 2018 to $45.71 thousand in Q3 2021, making an increment of 29.16%.
Waitr Holdings Inc. runs an online food ordering and delivery platform, which connects local restaurants with hungry diners in cities across the United States. In 2019, Waitr acquired BiteSquad.com, LLC (“BiteSquad”), an online grocery ordering and delivery platform that operates similar to Waitr. They connect guests and restaurants through the Waiter’s website and mobile application (“Weight Platform”) and the Bite Squad website and mobile application. The platform is a convenient way to find, order and receive great food from local restaurants and national chains. As of December 2019, it operates in small and medium-sized markets throughout the United States, covering more than 640 cities.
The Company’s business has a restaurant-first philosophy. They provide differentiated and brands additive services to the restaurants on their platform. Restaurants benefit from online platforms through increased exposure to consumers to increase activity in the takeout and delivery markets. For diners, Waitr optimizes the journey from restaurant discovery and food to delivery, while providing a diverse restaurant selection and great customer experience. It is an intuitive, easy-to-use platform that allows consumers to browse local restaurants and menus, track order and delivery status and securely store previous orders for optimal use and convenience.
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