Seema Shah · October 2022
Getir Considers Acquiring Gorillas as Pandemic Demand Wanes
The quick service food delivery industry is facing pressure, with companies cutting staff, slowing marketing and new store rollouts, and a pullback in investment and valuations. Grocery delivery was down 26% in June 2022 from June 2020, and both Getir and Gorillas have seen a decline in growth in mobile downloads and monthly active users. A potential acquisition could provide Getir with increased scale and deeper penetration in growing markets, as well as a chance to take out a competitor. A merger between Getir and Gorillas would make them a strong competitor to larger players like GoPuff and Instacart.
Key Takeaways:
Quick service food delivery industry is under pressure, with multiple players cutting staff, slowing marketing and the rollout of new dark stores and a pullback of investment and valuations in the sector
Grocery delivery was down 26% in June 2022 from June 2020, according to NACS
Both Getir’s and Gorillas’ growth in mobile downloads and MAUs has fallen in 2022 per Sensor Tower estimates
YTD 2022, average monthly MAUs at Gorillas and Getir declined 10% and 14%, respectively, from the prior month
Downloads to Getir and Gorillas declined 78% and 68%, respectively, in Sept. 2022 versus Jan. 2022; a significant drop within a nine month period
Acquisition could provide Getir with increased scale, deeper penetration in growing markets (such as Western Europe) and a chance to take out a competitor
Getir and Gorillas have low penetration in the US market in terms of MAUs and downloads, particularly versus peers like GoPuff and Instacart; a merger would make them a strong competitor to those larger entrenched players
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