GRABFOOD, the food-delivery arm of Grab, now accounts for more than a tenth of Grab Philippines’s revenues, as demand for food delivery in the Philippines continues to increase.
Brian P. Cu, the president of Grab Philippines, said GrabFood has taken roughly 10 percent to 12 percent of the company’s revenue pie. Transport continues to be its main revenue driver at almost 80 percent.
“We’re going at a very decent growth at 3 percent to 6 percent week-on-week. We are tapping the market, we are expanding by adding more partners, by making the app easier to navigate. GrabPay will also be capable on the payment channel for food,” he said in an interview.
Cu said the potential for the food-delivery market in the Philippines is huge, given that it is still largely untapped.
When compared to other countries, Cu said, the Philippines still has a lot of room for growth. The whole industry, he said, is accommodating around 80,000 food-delivery orders per day. In Indonesia, a very similar market to the Philippines, food-delivery orders amount to as much as 1.5 million orders per day.
“There’s still a lot of room to grow. In Metro Manila alone, there are millions of eaters. So the opportunity is big,” Cu said.
GrabFood has been in the Philippine market for only 11 months, but it was able to secure the top spot in Kantar’s survey on the most-used food-delivery service in December last year. It has since held on to that position, as it aggressively expands to more cities.
Today, GrabFood is present in 15 cities in Metro Manila and Cebu.
Cu said his group will continue to introduce GrabFood to more cities in the coming months, as it targets to double its volume growth by end-2019.
“We want to grow by another double volume in terms of orders per day by yearend,” he said. “We’re going in a way that it is sustainable for the company.”
Grab, which has transitioned from a transport app into an everyday super app that offers various services, is celebrating its seventh year in business.
In the Philippines, Grab has been providing various services to Filipinos for six years now. It unveiled on Thursday evening a swathe of new services that will soon be introduced in the country.
Within the year, Grab will be pilot testing Bus Marketplace, a service that will allow users to check and book for bus services within the Grab app. Grab will be partnering with bus operators in Metro Manila for this service.
It will also introduce GrabBillsPay, which will allow users to pay their utility bills via the Grab app through its e-money service GrabPay.