Deliveroo stories move into home and beauty products

Deliveroo plans to start selling everything from hammers and drills to cosmetics to boost its flagging growth rate.

< p>Shoppers will soon be able to order home hardware, electronics, toys and beauty products through the takeaway app.

New items will include a selection of 500 home improvement tools from retail chain Screwfix and Christmas gifts. from boots.

Deliveroo said it wants to provide “quick solutions to home problems related to plumbing, electrical, decorating and more.” Orders will be delivered through a network of approximately 80,000 passengers.

The company will also introduce the ability to “gift” items that will be delivered to friends and family in the lead-up to Christmas.

Chief Chief Operating Officer Eric French said the changes will address a “wider range of consumer needs and situations.”

Chief Chief Operating Officer Eric French said the changes will cater to a “wider range of consumer needs and situations.” p>

This comes as Deliveroo looks for new ways to boost sales amid slowing growth.

Revenue has grown just 3% this year, compared with 14% growth in 2022.< /p>

Shoppers have been cutting back on takeout meals due to the cost of living crisis. In response, Deliveroo cut hundreds of jobs earlier this year.

News of the move into DIY and beauty comes after Deliveroo founder Will Shu held the company's first-ever capital markets event on Wednesday for shareholders.

Mr Shu said he believed there was “significant growth potential still remaining.”

The shareholder engagement comes as Deliveroo is trying to boost its share price after a disastrous 2021 stock market listing that the company struggled to cope with. to recover from the fallout.

Deliveroo shares have fallen nearly 50% since the listing, which was one of the worst stock market debuts in recent history.

The shares lost a quarter of their value on the first day of trading amid concerns about losses and questions about the treatment of its drivers.

The company's shares have risen steadily this year, up 71% compared to the previous year.