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DoorDash's CEO says he's got an edge on Amazon in groceries
BusinessmarketwatchBusiness Insider6d ago2 sources

DoorDash's CEO says he's got an edge on Amazon in groceries

DoorDash reported worse-than-expected fourth-quarter earnings on Wednesday. Jeffrey Greenberg/Universal Images Group via Getty Images DoorDash has a key advantage over Amazon in grocery delivery, CEO Tony Xu said Wednesday. The delivery service offers a wider variety owing to its myriad partnerships with grocers, Xu said. Amazon is ramping up its grocery delivery, creating more competition for DoorDash and Instacart. DoorDash CEO Tony Xu says that his company's grocery offering has a key advantage over Amazon: choice. Amazon is doubling down on grocery delivery, especially perishables like produce and ice cream. The retail and tech giant said last month that it's expanding same- and next-day grocery delivery to more parts of the US this year, adding to the thousands of towns and cities it already serves — news that sent shares of Instacart and DoorDash tumbling at the time. DoorDash, though, has something that shoppers want and that Amazon isn't replicating, Xu said on the company's fourth-quarter earnings call on Wednesday. Unlike Amazon, which owns Whole Foods and several of its own food brands, DoorDash works with existing grocery chains. The delivery service has struck deals in recent years. Last year, it expanded its partnership with Kroger and signed new deals with regional chains, including Schnucks in the Midwest. Few customers complete all their grocery shopping at a single chain, Xu said. Many stop at multiple stores each week, especially to find specific fresh groceries, such as produce, meat, and seafood. "Consumers prefer choice," Xu said on the call, adding that he expects there to "continue to be very strong interest in the DoorDash product" as a result. DoorDash is also expanding its services for retailers, such as fulfillment through its DashMarts, convenience store-sized retail spaces designed for picking and delivering orders. Xu said DoorDash is "doing that for every single grocer so that they have the capability to compete against companies like Amazon." DoorDash shares rose as much as 14% in after-market trading on Wednesday, despite disappointing fourth-quarter earnings and guidance for 2026. The company's stock took its biggest one-day hit in November after it unveiled plans to spend hundreds of millions of dollars on tech improvements. While DoorDash has become known for restaurant deliveries, its gig workers are increasingly making grocery deliveries — many of which make more financial sense for DoorDash. Xu said DoorDash has attracted more big grocery orders from customers, not just small fill-in trips. That matters in the grocery industry, where grocers tend to make more money when customers buy a wider range of goods. "People use us for both the quick runs as well as the stock-up use cases," he said. Ravi Inukonda, DoorDash's CFO, said on the call that DoorDash's retail and grocery business expects to "be unit-economic positive" in the second half of 2026. Have a tip? Contact this reporter at abitter@businessinsider.com or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely. Read the original article on Business Insider

Gen Z is taking over restaurant loyalty programs — and forcing brands to adapt
BusinessBusiness Insider8d ago

Gen Z is taking over restaurant loyalty programs — and forcing brands to adapt

Lisa Werner/Getty Images Gen Z now leads restaurant loyalty signups, reshaping rewards programs. Survey data shows that diners will switch brands for better, faster loyalty perks. QSR giants are doubling down on digital rewards to win Gen Z — and it's paying off. Gen Z isn't just signing up for restaurant loyalty programs. They're raising the bar for how those programs have to work. By 2024, nearly half of all new loyalty program signups came from Gen Z as the cohort overtook millennials as the most active generation in restaurant rewards programs for the first time, according to data from PAR Punchh, a loyalty program software from the foodservice tech company PAR Technology. That number has only increased as more and more of the generation, aged 14-29, start flexing their spending power. "Gen Z isn't just participating," Savneet Singh, PAR's CEO, told Business Insider. "They're redefining loyalty." National data backs up just how central these programs have become for this generation. Gen Z consumers make up a higher-than-average share of restaurant customers who say being a member of a loyalty or rewards program is important when choosing where to eat, the National Restaurant Association's 2026 State of the Restaurant Industry report showed. That holds true across dining behaviors — whether they're eating in, ordering delivery, or grabbing takeout — and across segments, from drive-thru and limited-service chains to full-service restaurants. Singh argues that the generational takeover is structural, not cyclical. Gen Z grew up with smartphones and came of age during a pandemic that turbocharged mobile ordering and digital payments. For them, digital ordering, real-time rewards, and seamless app experiences aren't just perks — they're table stakes. "When loyalty is frictionless, Gen Z shows up," Singh said. "When it's clunky, they move on immediately." Rewards programs are no longer optional New survey data from PAR underscores the significance of loyalty programs for consumers. In a December report based on a survey of 1,000 US diners, nearly 70% said loyalty programs help them manage costs in today's inflationary environment. One-third said they're using restaurant loyalty programs more often because of economic pressure, and another third said their usage has held steady. A good deal from a rewards program can make all the difference. One in four respondents said they'd switch to a less-preferred restaurant for better loyalty perks, and half said they compare offers before deciding where to eat. How restaurants respond to that demand defines which formats resonate most with younger diners. PAR's platform data shows Gen Z over-indexing at quick-service restaurants like McDonald's and Taco Bell. In 2024, they accounted for more than a third of check-ins at QSR brands, compared with 20.8% at fast-casual restaurants like Chipotle and Panera Bread. Singh said the appeal is execution: speed, price, convenience, and integrated loyalty perks in one place. Fast casual establishments, by contrast, can sit in "an awkward middle ground" — not as convenient as QSRs and not as experiential as full-service dining. In a crowded landscape where PAR found that over half of consumers prefer managing no more than five loyalty accounts, clear value and seamless execution can determine which brands make the cut. And the chains that embrace the generational trend are already seeing the payoff. Taco Bell delivered 7% same-store sales growth in the fourth quarter, driven in part by transaction gains, especially among younger customers. The Mexican chain's active loyalty members climbed 31% in 2025, and digital channels saw double-digit growth, as app-exclusive drops and rewards nudged its core customers to visit more often. CEO Sean Tresvant told Business Insider earlier this month that "loyalty is going to continue to be a big story for us," adding that Taco Bell will be "really leaning into" its rewards strategy going forward. McDonald's is also leaning heavily into digital engagement. On its fourth-quarter earnings call on Wednesday, CFO Ian Borden described active loyalty membership as the company's "single most important digital metric." McDonald's has about 210 million 90-day active loyalty users across 70 markets, and 46 million active users in the US, he added. Borden said that, in the US, customers visited 10 and a half times in the year before joining the loyalty program — and 26 times in the year after. "When we get consumers into our loyalty program, they visit more often, they spend more over time, and they interact with us more frequently, so they get more value in their interaction with us, and we get more value by them interacting with us," Borden said. Starbucks also recently revamped its rewards program, bringing back its tiered system, extending the window for members to redeem their free birthday reward, and introducing a quicker-to-earn tier that lets customers redeem 60 Stars for $2 off any purchase — a move that lowers the barrier to instant gratification, which Singh said is particularly appealing to Gen Z. That kind of immediacy matters. PAR's survey found that discounts and free items or upgrades remain the most influential rewards, while more than half of respondents said better reward value, such as a surprise free item after a large order, would prompt them to switch programs. For Singh, the takeaway is clear: loyalty is less about points and more about performance. The brands that make participation effortless, deliver instant value, and respect privacy boundaries won't just win Gen Z — they'll define the next era of dining. Read the original article on Business Insider

CPI Card Group CFO Exits
BusinessYahoo1d ago

CPI Card Group CFO Exits

CPI Card Group announced that its Chief Financial Officer has exited the company, leading to a change in its executive leadership.

Tesla is dropping a bargain version of the Cybertruck
BusinessReutersBusiness InsiderYahoo+1seeking-alpha5d ago4 sources

Tesla is dropping a bargain version of the Cybertruck

Tesla's Cybertruck is getting a cheaper version. Reginald Mathalone/NurPhoto via Getty Images Buckle up, a budget Cybertruck is on the way. The truck has a starting price of $59,990. The cheaper Cybertruck comes amid Tesla's drive to make the car more appealing to the working man. Elon Musk's Tesla is doubling down on its road map to make the Cybertruck less vanity, more working man, with a budget version that's clocking in a little closer to the competition, price-wise. In an X post on Thursday night, Tesla announced it will roll out its "most affordable Cybertruck yet." It's advertised, per the post, as "tough as nails with ultra-low cost of ownership" starting at $59,990. The cheapest all-wheel-drive Cybertruck sold for just under $100,000 in 2024. It's now listed starting at $79,990. New version of Cybertruck now available to order in the US This is our most affordable Cybertruck yet. Tough as nails with ultra-low cost of ownership – Starts at $59,990 – Dual Motor AWD w/ est. 325 mi of range – Powered tonneau cover – Bed outlets (2x 120V + 1x 240V) &… pic.twitter.com/xMRF0cFo0X — Cybertruck (@cybertruck) February 20, 2026 While Musk has often positioned the Cybertruck as a competitor to the Ford F-150, at close to $60,000, the Cybertruck is still a premium option. The F-150 starts at $39,330. The cheaper Cybertruck comes amid Tesla's race to reposition Musk's shiny, silver vehicle as an everyman's car. The new version of the Cybertruck is now listed in a Tesla comparison chart as the company's "most affordable" Cybertruck. It has a lower towing capacity of 7,500 pounds, down from the 11,000 pounds listed for its "Premium All-Wheel Drive" and "Cyberbeast" versions. Significant interior differences include heated seats only in the first row, compared to both rows for the premium versions. The cheaper Cybertruck comes with textile seats, unlike the "premium interiors" in more expensive iterations. Musk once touted the truck as "apocalypse-proof." It's been subjected to recalls, including over its rearview camera, windshield wiper, and reports of jammed accelerator pedals. The more affordable Cybertruck comes after a year of modest sales for Tesla's electric truck. Tesla sold 20,237 Cybertrucks in the US in 2025, according to data from Cox Automotive released in January — half of its 2024 sales figures. It also falls far short of Musk's 2023 projection that the Cybertruck would sell 250,000 units a year. Read the original article on Business Insider