September 25, 2023: On Friday, Consolidations in Singapore’s highly saturated food delivery sector could be on the horizon, though it is unlikely that any one platform will eventually dominate, analysts said.
Foodpanda, the Singapore-headquartered food delivery service, has announced its recent round of layoffs as it seeks to simplify operations and become more agile. This marks the third round of releases for the company, following previous job cuts in February and September of last year. Other food delivery outlets like Grab and Deliveroo have also reduced their headcounts this year.
Foodpanda’s parent company, Delivery Hero, is reportedly in preliminary discussions with potential buyers to sell part of its Southeast Asian meals delivery business.
While specific markets were not mentioned, there have been reports that Delivery Hero is considering marketing its functions under the Foodpanda brand in several Southeast Asian countries.
Grab, one of Foodpanda’s opponents, has been gaining market share in the food delivery industry, while Foodpanda has faced challenges due to its stand-alone delivery standard. Grab currently holds the largest market share in Southeast Asia’s food delivery demand, with Foodpanda and Gojek following behind.
These results reflect the competitive nature of the food delivery industry in the Southeast Asian region, with businesses seeking to optimize their operations and market positions.
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