GRAB Philippines said it targets to leverage market momentum, fueled by consistent delivery and online transaction trends, to drive growth and innovation in its services.
“I think the market for Grab, while it is growing… what we are finding is that, at least based on the percentage of orders, there are more deliveries or online transactions that are happening now versus before the pandemic. So, the practice has stuck around,” said Greg Camacho, Grab Philippines director for deliveries, on the sidelines of the GrabNext Conference last week.
Grab Philippines said it is boosting its omnicommerce strategy to meet the changing demand of consumers and its merchant-partners particularly the micro, small, and medium enterprises.
Grab has introduced its own payment solutions, allowing customers to pay using its application, as the company also aims to capitalize on changing consumer patterns, Mr. Camacho said.
“Our aim is to equip [merchant partners with] innovative tools that cater to this new hybrid consumer behavior, ensuring that every interaction whether in-person or online — translates into growth opportunities. By intertwining digital efficiency with the authentic dining experience, we are setting a new standard for what it means to dine in the digital age,” he said.
Further, Grab Philippines expects food deliveries and online transactions to grow in the country, he said.
“There was a report, the economy report, which predicts that the size of the market today is set to more than double by 2030. For food, for the digital economy of food and transport. So, I think the digital economy is in a good place now. We’re continuing to grow. But despite that, there’s still a lot of headroom moving forward,” he said.
Mr. Camacho cited a report from Google, Temasek Holdings, and Bain & Company last year, projecting the Philippines’ digital economy to potentially reach $150 billion in gross merchandise value by 2030.
It also projects that the Philippines’ internet economy will grow by an annual 20% to reach $35 billion by 2025. Transport and food delivery services are projected to grow by 19% annually to $3 billion by 2025 and to $5 billion by 2030.
Grab Philippines said it is targeting to expand its food delivery services to at least seven new areas this year. — AE.O. Jose
