What is the trend in delivery costs over time for European on-demand delivery companies?

It's definitely going down because they're increasing efficiency, so a higher number of drops per hour.

If you looked at the cost of delivery as £ per hour, it’s in line with the minimum salary.

Another variable is whether couriers become employees or not, which has a lot of impact on the delivery cost. Depends on how many of them the companies want to employ. Because that would become a fixed cost base. Right now, it's a variable cost.

Right now, they sign up, I think it's a week before and you'll pay them only if they deliver an order. When they become your employees, you pay them every month, you pay social security, you pay all of the costs that are involved and you don’t have any flexibility at all.

Food delivery, in general, has fluctuation in demand. So you really need to have that flexibility to adjust your cost and be prepared for the demand.