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A Bold Prediction for 2023
The Juice loves Uber (UBER).
We explained why on October 19 (“Can Canada Get Uber High?”) and November 1 (“Time to Take a Ride With Uber?”). Read those stories for all the bullish details. In a nutshell, it comes down to the all-encompassing, Amazon-like ecosystem Uber is building in part by leveraging its treasure trove of rider data.
Don’t look now, but Uber has been on a run the second half of the year, up roughly 17% versus returns of +3% and -2.7% for the SPDR S&P 500 Index ETF Trust (SPY) and Nasdaq-100-tracking Invesco QQQ ETF (QQQ), respectively.
Source: Google Finance
At the end of November, we wrote about another stock we like almost as much and for similar reasons as Uber. In “The Next Amazon? 2 Speculative Stocks to Buy Now,” we reiterate our thoughts on Uber and make the case for DoorDash (DASH).
We’ll have more to say about this in 2023, but today The Juice formalizes something we threw out in our Uber and DoorDash conversations. Next year, we think Uber buys DoorDash.
It’s a match made in mobile-app heaven. As we speak, DoorDash is making a holiday push for people to sign up for its monthly or annual subscription. As it expands its loyal user base with this aggressive promotion, DoorDash becomes even more attractive to an Uber looking to keep riders in its ecosystem before and after a ride.
Again, we’ll expand on this 2023 prediction in 2023.
Now, more of what matters, especially during the holiday season: food.
The Most Unexpected Food Combos of 2022
Yes, two Juice newsletters about food in two days. We plead the holidays.
Yesterday, we riffed on Starbucks (SBUX) and told you about what chefs predict will be the top food trends of 2023. Today, we look back on 2022 with insights from Uber’s excellent “2022 Uber Eats Cravings Report.”
It’s not all fun and games. This report underscores just how much unique and useful data Uber collects.
But now, the fun and games!
According to Uber, the most unexpected food combos it consistently observed this year were:
We could say a lot about this list, so we’ll limit it to two things.
One, who gets a martini delivered?
Two, as blue cheese people, we’re happy that, despite its strange inclusion with sushi on this list, America’s obsession with ranch appears to be fading.
While pre-pandemic requests for “ranch,” “extra ranch” and “side of ranch” topped the charts for most requested special instructions on Uber Eats, these requests now don’t even crack the top 20.
In all seriousness, this data is so valuable.
Consider the five most popular food and alcohol pairings of 2022:
Imagine you’re Ubering to a restaurant. Uber can ping your iPhone to suggest one of the above combos and offer a deal if you order it and show the server your phone.
Other interesting nuggets from the Uber data nerds:
One more shocker: The viral Negroni Sbagliato was fall’s most popular cocktail on Uber Eats. Thanks to this trend (or fad!), Campari – one of the main ingredients in the Sbagliato – orders increased 75%.
The Bottom Line: While this type of data tends to generate laughs – because some of it’s funny – you can’t underestimate its power. Because Uber doesn’t collect this and other data for fun. It collects it because it can use the data to lock consumers into its growing ecosystem.
Forget everything else Uber does, it’s valuable as a company because of its data from Uber Eats and its core service, rideshare. Uber tracks your movements and preferences, which makes it attractive to the world’s biggest advertisers.
In 2023, we think Uber steps on the gas super hard, doubling down on data and, as we said, making DoorDash a pawn in its game.
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