Pandamart: Foodpanda Joins Online Grocery Delivery Fray
ecently Foodpanda introduced its new feature, Pandamart. Foodpanda is one of the best online-based multinational food delivery companies. It enables their users to order from home and place an order at local restaurants via mobile phone app or website.
It is a new platform that will allow their customers to order grocery items and essentials from nearby local shops and they will deliver the products on the consumer’s doorstep. Due to the COVID-19 pandemic, Foodpanda has gained so much popularity, and it becomes one of the Fast-growing food delivery service providers.
Pandamart also follows the aggregate model of Foodpanda, and from here, people can choose various grocery shops and select the best product. For this service, the owner from grocery shops is also earning extra during this pandemic.
Moreover, most of the customers are purchasing products like groceries, pharmaceuticals, and electronics from Pandamart. Business model and strategy-wise the potential of Pandamart to grocery shops is as same as the relationship between Foodpanda and the restaurants.
Pandamart: Foodpanda’s New Feature
However, here are some points that will show you how Foodpanda is doing its business and becoming the leading online food delivery service in Bangladesh:
Gathering Attention of Potential Customer
Pandamart has already attracted quite a little bit of attention from their potential customers. For their grocery delivery service, many people are able to purchase any products. They also can be able to get the products on their doorstep, which is absolutely an essential need for us in this pandemic situation.
Food panda launched its Pandamart service with Swapno this year in April. From the beginning of their journey, foodpanda always tried to build enough operational muscle and always found a great opportunity to become a successful Startup.
So their new initiative Pandamart will also bring the best result for them hopefully. It takes a lot of cash to Open new verticals for a startup company. It is way much challenging to meet up with the perfect profit level. So it is an inspiring event in Dhaka’s tech space.
Following a Profitable Business Model
Foodpanda is a delivery business that operates with local restaurants. In this business model, both Foodpanda and restaurants are earning profits from their users. Basically, foodpanda offers two basic opportunities to its restaurant partners.
- Foodpanda offers logistic support to the restaurants and lets them accept the orders online as many of the restaurants don’t have their own logistic wing to give the online food service to their consumers.
- Then, Foodpanda takes the online order for the partner restaurants and attracts a constant number of consumers by giving various vouchers, campaigns & offers. For logistic support, this delivery service provider charges an extra fee from the customers, and for-profit, it charges an extra commission from the partner restaurants.
Increase in Profit Margin
The offeror voucher system works positively both for the customers and restaurants. Foodpanda is basically growing because of its demand aggregation power. It always finds a way to make more money using this power.
Foodpanda is getting into the cloud kitchen and it is also going to increase their margin of profit. Cloud kitchens will help them in two ways:
- It will help them to grow their profit margin.
- It will improve the relationship with restaurant partners and allow them to ask for more commission from them.
Reflection Of Aggregate Demand
So, it is easy to understand that Pandamart is another reflection of the same aggregate demand, which will collaborate with the grocery, pharmaceutical, electronic shops. The process is the same as food panda collaborating with restaurants.
It is a great initiative by Foodpanda and hopefully, that will grow the profit margin excessively. Most of the offline stores don’t have the capability or advantage of taking orders online. They always have to wait for the customers and provide them service physically.
They also don’t have the logistic support to attract more consumers with their products online. In this case, Pandamart will help these retailers to gain more customers. Now pandamart is looking forward to working with big international brands and wants to earn more commissions from them.
Delivering products is now a very competitive sector in the marketplace. Many companies are delivering products with the same offers or strategies. Pathao also launched many initiatives in the delivery sector. Uber also entered in this sector, but it was quite late to achieve the leading position.
Shohoz was also active in this delivery sector for a long time. In comparison, a small number are able to survive. This overcrowding situation makes it harder to enter for the newcomers. Customers also find more discounts and where they can be able to get it, they pay more attention to them.
Using Aggregating demand as a business model for achieving a great customer reaction is a great technique. This process helps a startup to launch different verticals and gain profit from the same customer’s platform.
Many startups are following this process of being successful in the marketplace. Among them, everyone cannot survive, but some lucky ones can make it possible. In the initial stage of this type of startups, it struggles a lot. There are some reasons which came from three areas-
- There are many competitors in the same area so you have to implement a unique idea that can solve the problem of the consumers.
- There has to be generous support of technology because collaborating with various shops is a great task for the team.
- The startup has to be capable of competing with other peers with a different strategy if that is not possible, then it can result in a great loss.
As an example, Chaldaal.com has more variety and better delivery service than Pandamart, so people obviously go to order from Chaldaal instead of Pandamart.
We can say that Pandamart is an experimental project launched by Foodpanda and it proves that there are no boundaries in the technology-based market sector. It is quite simple that companies will always be going to cross their comfort line to explore the opportunities which are waiting for them in the future.
For these new initiatives, every consumer will get to experience a whole new online grocery service and can be able to make their life a bit easier.
Afrida Nower Mowmi
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