BAEMIN Vietnam CEO bullish on food delivery sector

March 20, 2023 | 10:56
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Thanks to Vietnam's rapid growth, emerging modern infrastructure, and user readiness, BAEMIN Vietnam's CEO is upbeat about the potential of the country's food delivery market compared to other countries in the region.
BAEMIN Vietnam CEO bullish on food delivery sector

The latest report on the food delivery market in the top Southeast Asian markets by Momentum Works indicates that the total spending on food delivery services in the region will reach $16.3 billion in 2022, up 5 per cent after two years of explosive growth due to the pandemic.

This growth is mainly driven by the food delivery markets in the region, including the Philippines ($800 million), Malaysia (up $600 million), and Vietnam (up $300 million). In the face of increasing pressure to make profits from investors, current and new food delivery apps are cutting down on promotions, while competing heavily on service quality and other unique services.

At the 2023 Food and Beverage Conference organised by Vietcetera and MasterCard last week, Jinwoo Song, CEO BAEMIN Vietnam said, "The growth of the food delivery market in Vietnam is no surprise when it meets the modern consumption trends of customers, focusing on convenience and time savings. Still, businesses are facing significant challenges, among which is shifting from attracting customers by promotions to achieving profitability for sustainable development."

Aside from making unique initiatives to maintain a witty and distinctive brand image, he emphasised the crucial role of strengthening the solid relationship between applications and merchant partners.

"To achieve sustainability in a fiercely competitive market like Vietnam, in addition to understanding the users’ desires and improving the livelihoods of rider partners, the cooperation with merchant partners needs to be invested in and carefully nurtured through various activities. Therefore, BAEMIN aims to build a strong community among partners and help them enhance their long-term competitiveness and capabilities," he said.

From the very first registration process, merchant partners will undergo a transparent, simple, and accessible five-step registration process. After that, the company continues to support partners in optimising sales operations and increasing profits through initiatives such as the "BAEMIN Academy" - an online and offline training ecosystem.

The latest activity of the acadamey is the "Kitchen Know-It-All" livestream series, helping partners gather the necessary knowledge and experience to operate smoothly. Not only limited to business activities, the company also provides opportunities for partners to purchase eco-friendly packaging at discounted prices, keeping up with the green lifestyle of Vietnamese customers.

"The BAEMIN B2B Mall initiative, launched in February, was warmly received by merchant partners. This is an in-app store providing recycled packaging products at favourable prices. We will continue to invest in education and training programmes to improve partners and users’ awareness towards sustainability." said Jinwoo.

"At BAEMIN, we are constantly looking for opportunities and initiatives to connect stakeholders within our operating ecosystem, helping them understand each other better and thus forming closer relationships. In the future, we will continue to leverage our strengths to offer more unique products and services, helping everyone lead happier and more convenient lifestyles," he said

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By Thanh Van

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