Recently, Grab Vietnam has provided users with more transportation and delivery options at more reasonable prices through many new services such as GrabBike Economy, GrabCar Economy and various delivery options for GrabFood orders.
According to Grab Vietnam CEO Alejandro Osorio, this is part of the Affordability strategy that Grab has applied to reach more users on a larger scale. And in fact, Grab Vietnam has witnessed growth from both consumers and drivers. In particular, from the first quarter to the third quarter of this year, the average monthly income of drivers has increased by 5%, while users can still use the service at an even more economical price.
Grab is implementing many policies to support users.
"For me, that has always been the strongest signal that we are on the right track and achieving impressive results. As I have mentioned in previous press interviews, there is always a balance between prices for consumers and drivers' income," he said.
Drivers always want higher fares, but that can reduce user demand, and ultimately their income. Users want low fares, but if the fares are too low, the number of drivers will decrease and there will not be enough to meet demand, especially during peak hours.
"So when we launch a service like GrabCar Economy or GrabBike Economy, we see a positive reception from both users and drivers, which means drivers see the benefits too," CEO Alejandro Osorio revealed. "Of course, at first they may not be very happy, because they always want high fares. But over time, as the efficiency increases, they can get more rides, earn more money, and more drivers come to us. That is the lever for growth and the results that come from technological innovation," said Mr. Osorio.
When asked whether with this new strategy, Grab will gradually reduce the number of promotions, a representative of Grab Vietnam said that the application realizes that it cannot attract or retain users simply through promotions. In particular, with the goal of bringing Grab services deeper into provinces and cities outside of Hanoi and Ho Chi Minh City, the factor of reasonable prices is becoming increasingly important.
"Grab has had to invest heavily in its platform, resources and technology to drive demand for its services over the years. When the appeal is strong enough, and users can come to us naturally, we can apply many different ways to deploy promotions as well as allocate our resources" - Grab Vietnam's leader emphasized.
Mr. Alejandro Osorio - CEO Grab Vietnam
Last year, Grab saw its usage in markets outside Vietnam's two key cities grow 140% year-on-year, but the CEO still assessed that number as "just a drop in the ocean".
To further promote the use of the app, Mr. Osorio said, the service price must be increasingly suitable for the general public.
Sharing with Thanh Nien , the CEO of Grab Vietnam also pointed out 4 strategic pillars that Grab is focusing on to reach more users in the coming time.
The first pillar of the Southeast Asian tech giant's strategy is to leverage its ecosystem to become the best choice for consumers and partners alike.
"When it comes to competition, I probably can hardly find any other application that can provide as many types of services over a large geographical area as we do now. We are an application that provides food delivery, mobility, payment, parcel delivery services... and no other application in the market has similar services at the same time, for both consumers and driver partners" - CEO of Grab Vietnam emphasized and said that the investments that Grab has invested in its business over the years will create network efficiency.
Second, the affordable pricing strategy has helped Grab offer more affordable prices and increase accessibility to users nationwide. Third, and most importantly, operational efficiency. Flexibility allows Grab to adjust its strategy, stay adaptable and stay ahead. Finally, it continues to support its community and partners through greater investment in promoting green and sustainable initiatives.
“These are four strategic pillars that will help us deliver on our long-term commitment, as well as differentiate and drive further adoption of the app in the years to come,” said Alejandro Osorio.
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