English
Foreign businesses share Vietnam’s US$40 million online food market
Grab, ShopeeFood, Baemin and Gojek are sharing the Vietnamese online food delivery market, which is becoming more attractive amid the pandemic.
The pandemic has changed many habits of Vietnamese consumers. Food delivery services have become increasingly popular, especially the mobile delivery applications.
A report updating trends in the past 12 months on the popularity of delivery apps in Vietnam made by market research company Q&Me shows that the penetration of food apps in Vietnam is increasing. Up to 83% of Vietnamese respondents used food/drink delivery services, up 62% 12 months ago.
Of these customers, 77% used at least one mobile goods delivery app. The app saves time and has many promo codes.
Accordingly, 85% of users used applications to order food/drinks at least once a week. The frequency of ordering food also increased strongly during the pandemic, up 80%. However, online food orders in Vietnam are usually small value as up to 51% of the orders are priced below 100,000 VND. However, the average purchase price increased slightly in the past year.
Grab, ShopeeFood, Baemin and Gojek are the most popular food delivery apps in the Vietnamese market. According to the report from Q&Me, Grab is still the most used app, but Baemin was the app with the highest growth rate in the past year. This food delivery app has increased in popularity and maintained a good level of customer satisfaction, based on criteria such as “easy to order”, “staff attitude”, “speed of delivery”. ShopeeFood and GoFood (Gojek) followed.
According to the research, discount codes and shipping costs are major influencing factors on consumers’ purchasing decisions. Specifically, 30% of users are always looking for discount codes; and 28% of users will order food delivery if there is no shipping fee.
The revenue of Vietnam’s online food delivery market in 2018 reached about 148 million USD with an average growth rate of 28.6%/year.
Most of the online food delivery platforms in Vietnam are foreign businesses. Grab and ShopeeFood (formerly Now) are the two apps that hold the most market share. However, there’d is stiff competition from latecomers such as Gojek and Baemin.
Duy Vu
Source: https://vietnamnet.vn/en/business/foreign-businesses-share-vietnam-s-us-40-million-online-food-market-815323.html