By Dhirendra Tripathi
Investing.com – DoorDash stock (NYSE:DASH) rose 0.5%, but had traded higher after the company added alcohol on-demand to its marketplace.
The company said customers across 20 states and the District of Columbia can now order wine, beer, or spirits for on-demand delivery or pickup from thousands of restaurants, grocery stores, and retailers. The facility will also be available in Canada and Australia, reaching over 100 million adults worldwide, the company said.
DoorDash said it has built an alcohol catalogue for purchase across retailers and restaurants. Additionally, with the recent roll out of DoubleDash, customers in select markets will now be able to bundle alcohol with their restaurant meal on certain orders, the company said.
According to a recent Nielsen report that DoorDash cited in its note, alcohol is the fastest growing e-commerce vertical across all consumer-packaged goods. As per the findings mentioned in the report, 56% of customers over 21 would order alcoholic beverages if they were offered as part of food delivery from a restaurant.
DoorDash has been adding new verticals to tap new revenue streams. In the last quarter, it struck pacts with grocer Albertsons (NYSE:ACI) and pet food and products retailer PetSmart.