e quick delivery ecosystem through data-crunching and panda pizzas. “Existing QSR chains have been forced to rethink how they retain and grow their share of the pie. This is why today QSRs are prioritising a digital-first mindset as they look towards platforms like Foodpanda to help them unlock new growth opportunities and engage customers,” said Yang. Owned by German firm Delivery Hero, Foodpanda currently operates in 11 Asian markets and has a new regional headquarters in Singapore. The company is a major player in Hong Kong, the Philippines, Malaysia and Taiwan, but it pulled out of Japan at the end of last year. Asia now represents nearly 70 per cent of Delivery Hero’s gross merchandise volume, and what began as a food delivery company has become a much broader online business, catering to retail and grocery needs as well. Digital and delivery Industry reports suggest the global food delivery market will be worth US$128 billion by 2028, up from the current US$80 billion. This means the marketplace will grow at an impressive CAGR of 6.5 per cent. The growth potential in Asian countries is particularly noteworthy. Another report by market research firm Frost and Sullivan forecasts that the online food delivery market in Southeast Asia will catapult to about US$50 billion by 2030, tripling in size from 2021. While major regional players such as Grab and GoTo have bigger ambitions to become “superapps” offering more than just food, Foodpanda wants to play to its core strength. “For QSRs to influence buying behaviour, they need to first be able to pre-empt and correctly identify which stage of the journey the customer is at and what they are searching for,” said Yang. “It’s all about putting the right product in front of the right customer, at the right time. This is why QSRs require specific digital tools to help them meet the evolving needs and preferences of today’s customers, especially the digital natives.”  Gen Z makes up a huge chunk of the population in Southeast Asia. They are the ones, armed with disposable incomes, who enable market growth through their love for mobile phones, apps and easy access.  But while there are advantages to operating in populous countries with growth potential – they only make technological advancements and investments easier – they are also filled with cutthroat competition of all sizes. Foodpanda competes through intuitive digital tools, such as carousel ads, curated bundles and Panda Pro discounts, which promote QSRs to a targeted segment of customers based on location, preference, ordering patterns and frequency to compel them to place orders. “QSRs are also increasingly relying on data from platforms like ours to provide deeper insights and improve the experience for customers from different generations, cultures, and walks of life. We are currently working with QSRs to tap into data analytics. We can now help them analyse customer segments, not only what gets bought, but also what gets searched, and what gets clicked on. Therefore, we help QSRs enhance the customer journey,” added Yang. Unique offerings In Singapore, Foodpanda partnered with Pizza Hut to launch panda-shaped pizzas, Subway to launch pink panda cookies and LiHo to launch pink panda bubble tea. In collaboration with Burger King and McDonald’s McCafe, the company has come up with Pau-Pau plushies and Pau-Pau Cakes respectively. Such customised offerings have helped the delivery platform propel its growth story amid stiff competition in the Asian market – where it is a leader in many countries or at least the second best player. “Customers are attracted to unique experiences. We’re always finding new and innovative ways to excite our customers and make them enjoy the experience of ordering food. It may be challenging for QSRs to run such campaigns on their own, hence Foodpanda’s role in helping to provide scale and access to digital tools,” said Yang. As part of its 10th anniversary, the delivery service operator has also come up with a first-of-its-kind sustainability program in Singapore, which involves labeling restaurants for their environmental efforts. Green Label, launched last month by Dr Amy Khor, Singapore’s senior minister of state for sustainability and the environment, will assess the restaurants’ sustainability practices and accord special certificates.  Criteria include: conscious food, sustainable packaging, waste reduction, food waste, social welfare, carbon reduction, awareness and education and power supply.