$Sea Ltd(SE)$ SEA Limited online shopping & digital wallet brand is one of the favourite stock that I invested in. They able to expand vertically by launching more and more new business. Earlier they are in Gaming industry, then they go into e-commerce and later into digital banking sector.
Shopee recently have extended new business in Malaysia by launching Shopee Food. Malaysia is not the first country they launched Shopee Food. They have launched this earlier in both Indonesia & Vietnam market.
How big is online food delivery market in Malaysia and what is the potential growth? According to Statista, Malaysia online food delivery grew 68% in year 2020 vs 2019 because of covid pandemic to USD 217million. They forecase 2021 will growth another 25% vs 2020 and by year 2025 the market will have USD 435million revenue.
According to online research, 2019 & 2020 online food delivery was dominated by 2 player which is Food Panda & Grab Food. Both of this player already dominated 98% of food delivery business in Malaysia. The balance 2% of market share is shared by few smaller player like Delivery Eat, DahMakan & BungkusIt.
What is the strategy that Shopee is going to use and capture market share from the 2 big player in Malaysia. Non others than their favourite 2 strategy - Free Delivery + Discount voucher.
You can go to their Shopee apps and download above voucher. They got offer free delivery and food voucher discount up to 50%. Eg you can get RM4 discount with min spend of RM8 which translate to 50% discount.
I have trying yo browse thru Shopee Food list. Seems like it have lesser choice compare to Food Panda & Grab Food. This is acceptable as they just go into the market, it will take some time for them to recruit more partner and join their platform.
About food vendor merchant fees, so far I can't find the details how much they charging food vendor. I manage to google 1 post about this and apparently they might charge 25% fees on seller. This charges is slightly lower compare to both Food Panda & Grab as they are charging around 26% ~ 30%.
You are welcome to provide more info about Shopee Food and comment on below. Please give a like if you enjoy this article. Thanks in advance.
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