As a long-term, strategic thinker, I’ve occasionally shared predictions of various issues. More often than not with the other half because he challenges my predictions and we have a great discussion.
Reading Seth Godin’s blog post on training our instincts made me decide to write down these instincts.
Food delivery has seen a surge of popularity in Singapore, with big players like FoodPanda, Deliveroo and UberEats. However, I do not think they will become as huge achieve as large-scale market penetration on a scale of Uber or Grab.
Setting the backdrop of Singapore
Food is a MASSIVE part of our culture. The food scene is extremely varied and diverse, from low-end cheap hawker food to high-end fine dining, all showcasing a variety of cultures and tastebuds. Totally spoilt for choice. Eating out with friends can be affordable and there is no tipping culture. Why is this important? It means that gatherings with friends can frequently and easily happen outside, no need to gather in anyone’s home in order to “eat cheaply”.
Most people in Singapore live in houses with not that much space for large gatherings. Thankfully, not yet the way of Hong Kong’s cramped housing.
Affordable eating out + small homes = eat out frequently
Reasons why people would utilise food delivery services despite the above:
1. Food you want is too far away
2. Order large quantities of food
3. Too lazy or busy to go out and eat
All of the above does not occur on a daily or frequent enough basis for a majority of the population such that they would repeatedly use food delivery services on a B2C level. For companies that are located in hard to reach places, they would have arranged for catered options or something similar for employees already.