Fave, one of Southeast Asia's leading digital merchant platforms, has announced the launch of Fave Takeaway in Singapore. The newest addition to the Fave platform will enhance the company's position as the region's one-stop solutions platform for merchants and their customers.
Takeaway will allow customers to pre-order their meal selection and make payment via FavePay before picking up their order at the participating stores. Customers can look forward to the collection within 30 minutes (or less) depending on the restaurants' speed of service. Users will also be able to enjoy Fave's various cashback and rewards offerings. The new feature follows the launch of Fave's Table Ordering service in May this year.
Takeaway signals Fave's commitment to digitise Southeast Asia's F&B sector further by allowing merchants to efficiently serve more customers beyond the capacity of their outlets while diversifying their revenue streams and increasing productivity.
Joel Neoh, Co-Founder and CEO of Fave said, "As the Government continues to push for a digital and seamless economy, Fave is helping SMEs adapt to the new landscape and in a more cost-effective way by giving them the tools to enable them to serve their customers in the best and efficient way possible. The introduction of Takeaway is our way of enabling that our merchants get the most out of the platform by increasing productivity and revenue."
Ng Aik-Phong, Managing Director, Fave Singapore said, "Queueing makes up a large portion of the average Singaporean's time, but it is not something we would want to do when we are in a rush. That's when we want our food fast and efficient! With the introduction of Takeaway, we hope to bring convenience and efficiency to our consumers while constantly improving our platform for both merchants and consumers."
Participating merchants include Paul, Wafuken, Menya Musashi, Ajisen, Tokidon, Isaac Toast, BBQ Box, Tuk Tuk Cha and Chicken Up. Over 200 merchants will be participating in the launch of Takeaway with more to follow by the end of the year.
Southeast Asia's internet economy continues to proliferate, soaring to US$100 billion for the first time in 2019, more than tripling in size over the last four years, according to the 2019 Google-Temasek report. The F&B sector currently contributes to 0.8% of Singapore's GDP, and as of July 2019, has a total value of S$877 million, with no signs of slowing down, even as other industries such as the retail sector faces a decline in sales this year. It has been projected that the F&B sector is set to grow at a 2.1% compound annual growth rate (CAGR) in the next five years.
This year, Fave has helped SMEs to grow their revenue by over US$280 million. The introduction of Takeaway comes at an opportune moment for Fave. With at least a third of F&B outlets in Singapore using at least one tech solution to boost their productivity and 1 in 4 merchants currently on Fave, the initiative comes at an opportune time as the sector looks to grow. The response towards Takeaway has been positive, as merchants embrace Fave's offerings as a tool to aid in their businesses.
"Today's consumers know what they want, an efficient ordering process and quick delivery have become two necessities for brands and the partnership with Fave make perfect sense because they understand the consumers," said David Yang, COO of Paul Bakery.
Jake Pang, Co-owner of Wafuken, also shared the sentiment, sharing that "The addition of the Takeaway means a shorter waiting time for the customers which would also help to improve the overall customer experience. Fave helps us so that we, in turn, can ensure the best experience for our customers."
First-time users to Takeaway may use the following promo code "SKIPQ" to get $2 off their purchases with a minimum spend of $6. Visitors to Artbox Singapore 2019 will also be able to utilise Takeaway and FavePay during the event.
