CNBC’s Jim Cramer on Thursday told investors food delivery isn’t a habit consumers want to break, even as they feel the weight of inflation.
by Julie Coleman
CNBC.com
CNBC’s Jim Cramer on Thursday analyzed why food delivery companies are seeing success while many of their consumer discretionary peers suffer as users continue to feel the burden of inflation.
He said food delivery is a habit consumers don’t want to break — something they seem more willing to spend on than other luxuries.
“DoorDash and Uber Eats and Instacart can only put up numbers like these because food delivery has become a calcified habit for so many consumers, people who value their time as much as they value their money,” Cramer said. “No wonder people don’t have excess cash to throw around — they’re spending it all on DoorDash.”