(Ho Chi Minh City, March 25, 2022) On March 25 and 26, the F&B Franchise Fair MakanSingapore, aimed at bringing F&B franchising opportunities from Singapore to Vietnam, has taken place virtually, offering new insights and chances for businesses in the burgeoning sector.
Using technology applications is a way to adapt to the "new normal" context
In today's rapidly evolving and transitioning digital age, technology is a prerequisite for the long-term and sustainable growth of businesses. This is especially for businesses in the F&B segment as they have to face the significant impacts and difficulties resulting from the pandemic.
MakanSingapore F&B Franchise Fair, the first-ever virtual fair aimed at bringing F&B franchising opportunities from Singapore to Vietnam
“Back in the time when technology applications were not popular, F&B businesses always had a hard time trying to figure out the optimal rental spaces, human resources, advertisement… With today's advent of many technology platforms, businesses can easily approach potential customers, reduce fixed costs, and explore many potential opportunities for their development,” said Jinwoo Song, CEO of Baemin Vietnam.
“Instead of having to spend a huge budget for rental spaces to get prime locations such as on the first floor, or in the central areas to attract more customers, technology applications have helped F&B businesses explore modern approaches through new technology features to optimise operations, save costs while improving the speed and quality of delivery services through intermediary riders who are professionally trained and also experts with alleys and roads across the cities.”
Mr. Jinwoo Song, CEO of BAEMIN Vietnam, shared the vision of the application as well as his views on technology trends for the F&B industry in Vietnam.
Not only that, technology applications also support F&B businesses in direct brand promotion, such as the "BAEMIN Zone" initiative. This initiative helps restaurant partners expand their coverage area, create differentiation, and make it easier to attract new customers when passing by. At the same time, large-scale training programs are also being tested and launched, with the desire to help restaurant partners develop sustainably.
The development of e-commerce platforms in the future
As technology continues to advance, human life is increasingly improved. And with the increasing demand for experiential meals or smart shopping, e-commerce in Vietnam is expanding. Especially after the Covid-19 pandemic, consumer shopping habits and behaviors have changed significantly. According to the latest survey conducted by Q&Me at the end of 2021, 75% of respondents said they use online food delivery services, and 24% of them did so for the first time due to the impact of the Covid-19 pandemic.
"As the top-rated app in terms of customer satisfaction, BAEMIN is also one of the apps with significant growth in 2021. From operating in only 3 major cities at the beginning of 2021, BAEMIN now serves a large number of users in 21 provinces and cities, increasing the number of restaurant partners and drivers many times over in a short period of time. This is a typical example of the potential for technology applications to help restore and grow F&B businesses." - CEO of BAEMIN Vietnam shared.
BAEMIN now serves a large number of users in 21 provinces and cities in Vietnam
Potential growth of the F&B industry in Vietnam in the next 2-3 years
According to BMI (a research company providing macroeconomic, industrial, and financial market analysis), Vietnam has become one of the most attractive F&B markets globally (ranked 10th in Asia in 2019). At the same time, the taste of local diners has become more diverse and different than before as applications are widely popularized and continuously updated with new features.
"According to BAEMIN's observation, Vietnamese users will not have the habit of ordering a fixed type of food such as only Korean or Japanese food, but they will want to discover different types of food through various orders. Therefore, BAEMIN also introduced a new icon on the app called BAEMIN Picks, which showcases new and unique dishes so that users can freely explore and satisfy their desire to try flavors from different cuisines."
"Understanding the needs of Vietnamese users, especially busy groups such as office workers, the BAEMIN app has also researched and prepared to introduce convenient meal options called Bento925 with a menu built by the BAEMIN Kitchen team of chefs, to help this group live more comfortably and conveniently," Mr. Jinwoo Song added.
In the near future, BAEMIN plans to introduce many new activities and services for users across the country, with the desire to help everyone live a more convenient and easy life through the BAEMIN app.
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