The semi-official launch of the app for service is now for “Robinhood”, the newest food delivery app from SCB 10X Co., Ltd., a subsidiary of SCB, Siam Commercial Bank. The latest information from the executives is that there are approximately 16,000 restaurants joining the app (October 26, 2020). Of this number, there are small restaurants that are not included in other food delivery apps. This is because one of the highlights of “Robinhood” that many people are excited about is that there is no GP fee, making it an opportunity for small restaurants that cannot afford the GP fee to join. Let’s reiterate the interesting highlights of “Robinhood” for the perspective of restaurant operators. What are they?
1. No platform usage fees (GP)
It is one of the highlights that restaurant owners have been waiting for because during the past COVID crisis, the collection of GP fees by food delivery app service providers has become a widely debated issue regarding the appropriateness of the collection rate. Then suddenly, there was news of the launch of “Robinhood”, announcing that it would not collect GP fees in order to be a platform to “help the little people” so that all entrepreneurs can access delivery sales opportunities, which are channels with high growth.
This is a highlight and also a big task for the app to do their homework on how to compete with the free shipping strategies of the leading apps. However, not charging GP is a good opportunity for the store.
2. Cash into the store immediately within 1 hour.
If not charging GP is cool, point 2 is even cooler because cash flow is very important for SME restaurant owners. The fact that the app announced in its terms that within 1 hour after an order is delivered to a customer, the money will be transferred to the restaurant's account immediately is a winner because transferring and paying are easy for a system like SCB. Using this strength of their own network to benefit entrepreneurs wins their hearts.
But I'm not sure if the system has other conditions for entrepreneurs who open multiple restaurant branches. However, we should study the conditions thoroughly before using the platform.
3. There is a team to help stores use the app.
One of the problems that hinders access to delivery market opportunities for small shops that we would like to call home shops is that business owners lack the skills to use technology. When applying or registering, they encounter many steps and methods and give up. “Robinhood” saw this problem and prepared a team to help entrepreneurs. They thought that from now on, they could just go to the Siam Commercial Bank and ask the staff to help them manage it.
Not only that, the app has prepared a team that will help post menu photos, edit menu photos, think of catchy captions, and help write menu recommendations that will make anyone who sees them stop and pay attention.
4. There are tools to help boost sales outside of the time when the store is popular.
When I first heard this, I wondered what the app would do. After studying the details, I concluded that the app would use Dynamic Delivery Pricing to help analyze and encourage customers to order food outside of the time the shop is already popular, by motivating them with special wholesale prices or other strategies that will follow.
5. Use SCB's solutions to benefit entrepreneurs.
This is a win-win situation between the app and the entrepreneurs, in which tools and products are linked to the app to allow entrepreneurs to access the products and services that the bank has to fully promote digital payments. Customers can choose to pay for food via account deduction in SCB EASY or by credit card, debit card, or prepaid card. Life is easier, payment is more convenient, and of course, it will include easier access to sources of funds.
In 2020, services will be provided in all areas in Bangkok, Samut Prakan, Nonthaburi, and Pathum Thani.
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Only in some areas in Samut Sakhon Province (Mueang and Krathum Baen Districts)
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Only in some areas in Nakhon Pathom Province (Nakhon Chai Si District, Phutthamonthon and Bang Len), with consideration to expand the area in the future.
If any service provider has not yet registered to join the app, you can view details on how to register at www.robinhood.in.th.
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