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Digital platforms are eating the world

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This whitepaper provides an insight into digital platforms, explains what they and are how they are working, shows some major platforms and gives a more detailed example of one.

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Digital platforms are eating the world

  1. 1. Digital Market Outlook – Whitepaper – e-Commerce & Retail Digital platforms are eating the world
  2. 2. Introduction A platform is a plug-and-play business model that allows multiple participants (producers and consumers) to connect to it, interact with each other and create and exchange value. Due to the concept of digital platforms, traditional industries like retail, telecommunications or accom- modation have been disrupted fundamentally, and new industries, e.g. Online Food Delivery, have emerged. For users, this means that the times of limited product variety and inconvenient consuming conditions are over as the ecosystem-platform-interaction offers a huge product variety by using one single gateway. But why are these platforms so successful and how do they work? This report aims at explaining what characterizes them and why they are so unique. Furthermore, we will have a look at one representative platform. Statista // August 172 Digital platforms: The customer touchpoint is their secret to success “If you want 10,000 new customers, you have to build a new warehouse and this and that. For me: two servers.” Jack Ma Founder and CEO of the Alibaba Group comparing offline retail and Alibaba’s business model
  3. 3. The world’s largest … retailer has no counter and owns no warehouses … accommodation provider owns no real estate … provider of hotel bookings possesses no hotels … music provider has never sold a single CD … video store has never run a physical store … taxi company owns no taxis … food delivery service employs no chef Industries disrupted by digital platforms Statista // August 173 Digital platforms have fundamentally disrupted many industries, and others are likely to follow
  4. 4. Digital platform approach Statista // August 17Source: Statista Digital Market Outlook4 Platforms provide the technology and user touch point to connect consumers with retailers External Ecosystem Consumers Digital Platforms Touch Point Producers / Value Creation (e.g. Online Shops, Hotels, Owners of Accommodation)
  5. 5. Digital platform approach Statista // August 17Source: Statista Digital Market Outlook5 Their success is driven by three main factors, which enable their scalability and fast growth Digital Platforms Touch Point Centralization of the user touch point (one digital “storefront”) 1 Decentralization of value creation (multiple producers) 2 Simplicity to connect (plug-and-play ecosystem) 3 Consumers Producers / Value Creation (e.g. Online Shops, Hotels, Owners of Accommodation)
  6. 6. Revenue development from 2012 to 2016 of top digital platforms (in US$ bn) Statista // August 17Source: Company Information6 The superiority of platform models is illustrated by incredible revenue growth in recent years Baidu 10.2 3.6 JD.com 3.2 6.2 Google 89.7 50.0 Amazon 136.0 61.1 39.0 Apple 214.2 156.0 Alibaba 15.7 Tencent 22.0 7.0 Netflix 8.3 3.6 Facebook 27.6 5.1 Ebay 9.0 7.4 20162012
  7. 7. Overview Statista // August 17Source: Grubhub7 Case study: Grubhub is a prototypical digital platform, serving millions of meals without employing a chef Grubhub is an online and mobile food ordering company specialized in connecting diners with local take-out restaurants. The company's portfolio of brands includes Grubhub, Seamless, AllMenus and MenuPages. The platform enables diners to order directly from more than 55,000 take-out restaurants in over 1,200 U.S. cities and London, U.K. Grubhub’s business model describes the concept of digital platforms best. Just by providing the infrastructure, Grubhub currently processes 313,900 daily orders and serves more than 9 million active diners. Founded: HQ: CEO: Market cap: 2004 Chicago, USA Matthew Mayer Maloney US$ 3.220 million Diner orders on the platform The order is sent to the restaurant The driver is notified and collects the food The driver delivers the meal 1 2 3 4
  8. 8. Revenue and net income from 2011 to 2016 (in US$ million) Statista // August 17Source: Grubhub8 Grubhub nearly reached revenues of US$500 million in 2016, with a return on sales of 10 % 493 362 254 137 82 61 50 38 24 7815 201620142011 201520132012 Net incomeRevenue 36% 43% 85% 67% 36% YoY revenue growth
  9. 9. Average number of orders per day from 2011 – 2016 Statista // August 17Source: Grubhub9 Grubhub served 325,000 orders per day in the first quarter of 2017, 21% more than in last year’s Q1 274,800 2015 227,100 45,700 2014 182,800 2013 107,900 2012 62,000 2011 1Q 2017 324,600 1Q 2016 267,800 2016 Average numer of orders per day 24% 69% 74% 21% 36% YoY growth rate
  10. 10. 0 1 2 3 4 1.0 2012 0.6 Grossfoodsales(inmillions) 2.4 2014 1.8 20132011 0.4 2016 3.0 2015 10 8 6 4 2 0 Activediners(inmillions) 8.2 6.7 5.0 3.4 1.00.7 Gross food sales (in US$ m) and active diners (in million) from ’11 to ‘16 Statista // August 17Source: Grubhub10 Number of active diners is growing rapidly and reached more than 8 million in 2016 Gross food sales (in millions) Active diners (in millions)
  11. 11. E-MAIL W W W . S T A T I S T A . C O M Imprint Statista ▪ Johannes-Brahms-Platz 1 ▪ 20355 Hamburg ▪ +49 40 413 49 89 0 ▪ www.statista.com Disclaimer This study is based on survey and research data from the previously mentioned sources. The forecasts and market analysis presented were researched and prepared by Statista with great care. For the presented survey data, estimations, and forecasts Statista cannot assume any warranty of any kind. Surveys and forecasts contain information not naturally representing a reliable basis for decisions in individual cases and may be in need of further interpretation. Therefore, Statista is not liable for any damage arising from the use of statistics and data provided in this report. FELIX WEGENER Analyst Digital Markets Johannes-Brahms-Platz 1 20355 Hamburg Felix.Wegener@statista.com 11 +49 40 284 841 864