Sector and Theme Explainers
Zomato, Swiggy and Meituan: What Food Delivery Unit Economics Really Show
A Bernstein comparison says Zomato and Swiggy earn close to Meituan's peak profit per order, even though China's market is about 22 times India's. Here is how food delivery unit economics are measured (GOV, AOV, take rate, contribution and adjusted EBITDA per order), what the filings confirm and what the comparison does not show.
CAPITA1 Editorial · 10 min read