According to the Food Business Market Report in Vietnam 2022 published by iPos.vn, food delivery is considered an inevitable trend of the F&B industry. This trend is forecasted to continue spreading in the coming years, following the expansion of the ordering, delivery and payment application infrastructure system.
Notably, data from iPos.vn shows that about 80% of food orders in Vietnam currently come from food delivery apps, and only 20% come from existing systems such as call via hotline, direct message, or through shipping apps.
The food delivery mobile application market is really potential. According to the Southeast Asia Food Delivery Platform Report conducted by Momentum Works, the total value of orders on food delivery platforms in Vietnam has reached $1.1 billion in the past year.
Vietnam is also one of the most attractive markets in the region when four big players: GrabFood (Grab), ShopeeFood (Shopee), GoFood (Gojek) and Baemin (Delivery Hero) are all present in the country.
Data from Momentum Works shows that Grab currently leads in value of food delivery orders in Vietnam with nearly $500 million. Following are ShopeeFood - more than $400 million, and Baemin with more than $120 million.
Although these are not the final definitive figures, it partly shows that food delivery is a market with fierce competition.
According to a report by iPos.vn, ShopeeFood is the most frequently used and loved food delivery application by Vietnamese people, followed by GrabFood and Baemin apps with 48% and 36% respectively. Loship and BeFood have the same frequency of use with 7%, ranked last.
This affects the behavior and habits of Vietnamese consumers. 64.7% of respondents chose geography as the main reason why they consider choosing a food/drink on delivery apps.
Following the geographical factor, taste is the second priority that makes these people consider when choosing a restaurant with 53% of the selection rate. The factors that are least concerned are complimentary when ordering (accounting for 12.3%) and limiting the use of plastic items (accounting for 13%). These are all factors that are not directly aimed at the taste, and the value of the order.
In general, when ordering online, diners are still concerned with the factors of price and food taste. In particular, close geographical location is an option that balances both factors (due to low shipping costs, low delivery time to help keep the taste almost original).
Source: iPos.vn, Momentum Works, theleader
Compiled by VietnamCredit
