Deliveroo plans to expand into DIY and beauty products

Deliveroo plans to sell everything from hammers, drills and makeup to boost its lagging growth rate.

Soon, customers will be able order DIY equipment and electronics, as well as toys, beauty products, and other items through the Takeaway App.

Boots and Screwfix will be introducing a range of Christmas gifts as well as a 500-piece selection of home improvement tools.

Deliveroo stated that it wanted to “provide a quick solution for issues at home, from plumbing, electrical to decorating and more”. Deliveroo’s network of 80,000 riders will deliver the orders.

The company is also introducing the option to “gift” products to friends and relatives ahead of Christmas. Eric French, chief operating officer at the company, said that these changes will “meet a broader range of consumer needs”. Deliveroo is looking for ways to boost its sales, as the growth rate slows.

Revenues have grown just 3pc this year compared with a growth rate of 14pc by 2022. Cost-of-living crises have led to shoppers cutting back on takeaways. Deliveroo cut hundreds of jobs in early this year as a response.

Deliveroo’s founder Will Shu, who hosted the company’s first capital markets event ever for shareholders on Wednesday, announced its plans to expand into DIY and beauty.

Mr Shu stated that he believes there is “continues a significant headroom for expansion”.

Deliveroo is working with shareholders to boost its stock price following a troubled listing on the stock exchange in 2021, from which it has struggled to bounce back.
Deliveroo shares have fallen by almost 50% since their listing. It was one of the worst debuts on the stock market in recent years.

The value of the shares dropped by a quarter on the first trading day amid fears of losses and concerns over the treatment of the drivers.

Stocks of the company have risen steadily in value this year. They are up 71pc year-to-date.