Wix.com Ltd ( WIX Quick Quote WIX - Free Report) is integrating WIX Restaurants with DoorDash white-label fulfillment platform — DoorDash Drive. This will provide the restaurant owners enlisted on WIX Restaurants with access to a large delivery fleet (through APIs and custom onboarding).
The DoorDash collaboration will help restaurant owners to rationalise their operations by incoprpoating delivery to their direct ordering channel with a flat-rate delivery fee. This will also boost the profitability of the restaurant owners, noted Wix. The latest integration will enable restaurant owners to integrate vital customer inputs with purchase trends and allow customers to track their delivery status in real time.
Wix further noted that with the help of Door Dash Drive, businesses built on the Wix Restaurants platform will be able to fulfill delivery orders made on their website, Dine App and Branded App.
With DoorDash Drive integration, WIX Restaurants will have increased flexibility and more control over delivery costs and logistics by eliminating the need to have an overhead expense of a building or hiring a delivery fleet, added Wix.
Booming Online Food Delivery Market Bodes Well for WIX
The increasing proliferation of smartphones and high-speed Internet along with hectic lifestyles and the development of user-friendly online food delivery applications are driving the online food delivery market demand. The coronavirus crisis also boosted the demand for online food ordering.
Consequently, restaurants are working on building a stronger digital presence to grab a bigger share of this booming market. This, in turn, augurs well for Wix Restaurants.
Wix Restaurants is a wide-ranging
offering for restauranteurs that helps them build online and mobile presence including the creation of agile online ordering and reservation functionalities as well as swift payment processing systems.
It facilitates restaurants to take orders 24 hours every day of the week. Wix Restaurants also comprises marketing tools that are designed to aid restaurants in promoting their businesses.
Last year, Wix
acquired SpeedETabto bolster the functionalities of the Wix Restaurants solution. SpeedETab facilitates Wix Restaurants to integrate with several well-known point of sale systems. This will enable restaurants to manage orders from various channels like online and offline as well as aid in linking up with various delivery partners and marketplace channels.
Currently, WIX carries a Zacks Rank #3 (Hold). In the past year, the stock has lost 64.5% compared with the
industry’s decline of 14%. Key Picks
Some better-ranked stocks from the broader technology sector include
Broadcom ( AVGO Quick Quote AVGO - Free Report) , Apple ( AAPL Quick Quote AAPL - Free Report) and Arrow Electronics ( ARW Quick Quote ARW - Free Report) . Arrow Electronics sports a Zacks Rank #1 (Strong Buy), while Broadcom and Apple carry a Zacks Rank of 2 (Buy) at present. You can see t he complete list of today’s Zacks #1 Rank stocks here.
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