Launched with great buzz, creating a stir in the restaurant business for the new food delivery app from SCB called “Robinhood ”, especially the selling point of the app is that it does not charge GP fees, which is a pain point between restaurants and the current market-leading food delivery apps. Therefore, it is not surprising that as soon as “Robinhood” was launched and announced that it would not charge GP fees, there was a positive response from restaurant operators. So, let’s analyze what interesting points “Robinhood” has and what types of restaurants it is suitable for.
- “Robinhood” is kind, free and pays fast.
- Preparing to open for trial service in July, full service from August onwards
- Join hands with Skootar to open service areas starting in Bangkok and its vicinity.
- Clearly announced that we will not participate in the shipping cost promotion war.
- Conclusion
“Robinhood” is kind, free and pays fast.
“Robinhood” It is said that it was born during the Covid period. Mr. Arthit Nanthawithaya, CEO of SCB, had to work from home like most people and used the food delivery app service. This made him realize the problems that restaurants have with app service providers, such as the problem of collecting fees or GP 30-35%, which from the perspective of restaurant operators, especially SMEs, is a high percentage that directly affects profits. Another problem is the time it takes to pay for orders to restaurants, which currently takes quite a long time for each app compared to the cash flow needs of SME businesses. This led Mr. Arthit to come up with the idea of producing a platform that meets the needs of entrepreneurs, which led to the creation of “Robinhood” A new app under Purple Ventures Company Limited, which was established specifically for this event, with SCB holding 100% of Purple Ventures shares and having a skilled executive, Mr. Thana Thiarachariya, highlighting the following selling points:
- No GP fee
- Sign up for free
- Order completed, restaurant receives payment within 1 hour.
- Conveniently access various SCB services
Preparing to open for trial service in July, full service from August onwards after the announcement of the launch
“Robinhood” SCB has also mobilized a team of almost 100 people to develop this app to be as complete and complete as possible. They are preparing to softly launch it at the end of July to test various systems before launching it fully in August. In the meantime, they are accepting applications from merchants to join as members.
Join hands with Skootar to open service areas starting in Bangkok and its vicinity.
Clearly announced that we will not participate in the shipping cost promotion war.
So what are the selling points that attract people to use Robinhood's food ordering service?
When there is no competition to create promotions to entice consumers to order food, the question that needs to be thought about is, will it please the consumers? At this time, the food delivery market must accept the truth that customers are addicted to subsidizing delivery fees. Don't forget that in the era of food delivery apps, the model was used where the orderer paid for the delivery fee. Until competition came in and the business model was adjusted to have the store be the one to subsidize the delivery fee, which was the source of the GP fee, causing the model where the orderer paid for the delivery fee to almost die. But it seems that... “Robinhood” Choosing to go back to the original formula, which is for the customer to pay for shipping, is a big question: Will it be okay? One approach is: “Robinhood” One option that might be chosen is to invite the store to subsidize the shipping fee. Since there is no need to pay GP, then use that expense as part of the shipping fee so that the orderer does not have to pay the full shipping fee. Instead of using other apps that charge 30-35%, then organize a promotion to help with the shipping fee, not reaching 30%, and the store still has profit left.
Conclusion The launch
“Robinhood” This is a good thing for the restaurant business. Even though in terms of competition with the market leader, we may not see fierce competition, but from the perspective of restaurant operators, with the offers that have been launched, they are ready to give their hearts to “Robinhood” When asked what types of stores are suitable for joining, the answer is that all are suitable. However, the points that need to be asked in advance are:
- Delivery area is still limited in the initial phase, covering only Bangkok and some surrounding areas.
- With the model of not collecting GP, there is no subsidy for delivery fees. Will this be a difficult problem for the customer who orders the food to use the service?
However, with the information that is available at this time, it must be said that we have not yet seen the details of the business model. “Robinhood” This analysis is just a perspective based on the available information. But believe me, if a bank thinks of investing in something, it will definitely not be just for fun or to please. Because every investment must answer the question of investors and shareholders: what is the purpose? Therefore, let's keep an eye on this. “Robinhood” Will he really be a kind-hearted thief? For restaurants interested in applying “Robinhood” can be applied through 3 channels: SCB branches, onboard.robinhood.in.th and Call Center 02-777-7564 Image credits: SCB and SKOOTAR Click here to read other articles.
