Friday, 15 November 2024
Trending

Business News

Food delivery apps Grab and Foodpanda expand into dine-in services

Bernstein picks recession-beating global stocks for ‘value, growth and quality’

Customers dining at Boat Quay in the Central Business District of Singapore.

Bryan van der Beek | Bloomberg | Getty Images

SINGAPORE — Singapore-based food delivery apps Grab and Foodpanda are expanding into the dine-in space, as consumers look to eat out more post-pandemic.

Grab is testing its dine-in feature across 15 cities in Singapore, Thailand and Indonesia, allowing users to pre-purchase dine-in vouchers at up to 50% discounts. App users can also view restaurants’ menus and reviews, order and pay via a QR-based system, as well as book rides to restaurants.

related investing news

CNBC Pro

The company told CNBC it has plans to launch in Malaysia, the Philippines and Vietnam as well.

Foodpanda was the first food delivery companies in Singapore to introduce dine-in features in 2021.

Foodpanda Dine-in is currently available in Singapore, Thailand, the Philippines, Malaysia, Hong Kong, Pakistan and Bangladesh. Since 2022, over 8,000 restaurants across these countries have started offering dine-in discounts ranging from 15% to 25%.

“We triggered the discussion already during the pandemic. And of course, we knew back then already, that there will be life after [the pandemic],” said Jakob Sebastian Angele, Asia Pacific CEO at Foodpanda, at a media briefing last week.

With dining out costs increasing with higher inflation, consumers are also looking for deals to save costs wherever they can, and there’s almost no better feeling than having a good meal at a discount.

Jonathan Woo

Senior analyst, Phillip Securities Research

Angele said the company sees “a huge potential in dine-in” and it can become “very, very sizable” for Foodpanda. Food delivery is currently still Foodpanda’s largest business, followed by grocery delivery, he said.

Last week, Foodpanda announced a collaboration with Singapore-based restaurant solutions provider TabSquare to automate food ordering processes through digital menus, QR ordering and more. TabSquare was fully acquired by Foodpanda’s parent company Delivery Hero in 2021.

In June, food delivery service AirAsia Food launched dine-in services in collaboration with restaurant reservation platform eatigo. In Thailand, it even offers a queuing service which allows users to book riders to queue up for them at restaurants.

DBS Bank explains why it likes Amazon and Sea Limited

Tay Chuen Jein, head of deliveries for Singapore at Grab, said at the time when the firm launched GrabFood’s Dine-in service that offering these discounts “makes eating out more affordable.”

“It not only helps our users discover…

Click Here to Read the Full Original Article at Top News and Analysis (pro)…