Immigrants have become an inevitable trend for globalization in recent years. It is pretty common to hear distinct languages anywhere worldwide. At the same time, especially since 2020, food delivery services have continued to see their demand soar as many restaurants have had to either limit capacity or resort to curbside pick-up only. In a sort of practical marriage between this demand for food delivery and the influx of immigrants living in countries that do not speak their native tongue, HungryPanda has stepped up. Targeting overseas Chinese, HungryPanda is the first and the largest food delivery company to provide Chinese language service for those people.
Chinese people usually name their food not only by the ingredients but with a very fancy name. However, food delivery apps, such as Deliveroo, Uber Eats, and DoorDash, always name the same food with all ingredients, making overseas Chinese challenging to understand what exactly the food is. What's more, most restaurants don't have pictures. Ordering food is like a lottery. Due to the cultural and language barrier, Chinese restaurants and customers all struggle to use the food delivery app. The presence of HungryPanda solves the problem. A straightforward Chinese menu with fine pictures and the use habits are the same as in China, aiming to provide a 'home experience' for Chinese.
Unlike mainstream food delivery platforms, HungryPanda has been affected by the pandemic, as many overseas Chinese choose to stay in China. However, this negative impact has not prevented the growth of the company. Since 2020, the revenue increase of HungryPanda has reached 280% - 400% in all operating countries. The Founder and CEO of HungryPanda, Eric Liu, mentioned that the company benefits from the surge in user demand, the changing view by Chinese restaurants, the expansion of HungryPanda business, the new market development and the increasing platform reputation. At present, the pandemic has been lifted in most countries, especially for HungryPanda's markets, the long-term cultivated user habits have shown strong growth.
In 2021, following the strategic plan of providing authentic food for overseas Chinese, HungryPanda also expanded its business with Panda Fresh and Panda Vouchers. Panda Fresh delivers fresh Asian groceries in Chinese and English, and Panda Vouchers offers coupons for offline entertainment services. HungryPanda aims to cover all lifestyle services for overseas Chinese. Only operating for several months, these businesses have achieved 25% of total revenue, representing a prominent future for HungryPanda's strategy.
