It would be a completely justified assumption to think that technology makes life easier and helps us function, but, in actuality, these devices and services have nurtured a level of codependence amidst our modern society. As consumers, we no longer hope that companies will invent technologies with our best interests at heart; we expect them to. Perhaps the most sought-after industry of all is that which allows consumers to purchase a product online and have it show up on their doorstep as efficiently as possible.
Special Delivery! On-Demand Tech Companies Hit Billion-Dollar Valuations; Here’s How Investors Can Capitalize In The Market
As it relates to the food industry, the delivery app market has blown up over the last few months. Food tech companies have invested billions in a quest to build out delivery services that effectively transport food from restaurants to consumers. Interestingly enough, the food delivery app market is not solely fueled by restaurant deliveries. According to a report from UBS Group AG, online grocery sales are projected to reach $86 billion by 2022.
In recognition of these projections, large-scale grocers, like Whole Foods, have invested capital to redesign their stores in order to optimize locations for delivery orders, creating dedicated checkout lanes for online-order shoppers, and other logistical solutions. In general, food-
Companies have said that their biggest obstacle for growth is converting users who rely on discounted delivery fees to become committed frequenters. The most recent solution from some of these companies, including Postmates, UberEats, and DoorDash, has been the attempted implementation of a subscription-based model. Essentially, in exchange for paying a monthly fee, consumers will be able to order from their favorite groceries and restaurants without paying bothersome delivery fees.
The global food delivery mobile app market is projected to reach $16.61 billion by 2023, meaning that, while some companies are struggling to overcome user drop-off rates and ineffective rollouts of subscription services, there are delivery companies that have found their niche. These select companies have figured out a number of ways to improve the quality of life for consumers through efficient product delivery.
ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF) is one such company that has enjoyed impressive gains over the course of the last few months as a result of demonstrating to both consumers and investors that they are prepared to meet the growing challenges presented by the food delivery industry. ParcelPal is unlike other delivery tech companies, in that their commitment to remaining consumer-centric has allowed them to climb to the top of the industry. The Company’s executive leadership recognized a societal need that was unmet; consumers needed a better way to get what they needed.
In recognition of these issues, ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF) created an on-demand, online marketplace where customers can search through a variety of products, from food to cannabis, and purchase whatever it is they want, all from the click of a few buttons. Once their order has been received by a ParcelPal courier, their order will be delivered to their designated location of choice within sixty minutes.
In recent news, at the tail-end of January, ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF) announced that it had formed a partnership with MADD Canada to aid in the continuous fight to prevent impaired driving. MADD Canada has endorsed ParcelPal as their official delivery service in Canada. As part of the ParcelPal’s national rollout campaign, advertising for ParcelPal’s service will be seen across the country in various educational forms. Together, MADD Canada and ParcelPal will launch a national awareness campaign focused on educating Canadians on the dangers of impaired driving and the options they have for getting items they want or need without leaving the party.
An Affiliate of JSG Communications, MIDAM VENTURES LLC has been compensated $75,000 per month for 3 months by ParcelPal Technology, Inc. for a period beginning September 1, 2018 and ending February 1, 2019 to publicly disseminate information about (PTNYF/PKG). We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares.
