Super app players are focusing more on non-food delivery businesses to seek new growth opportunities in response to the maturity of the online food delivery service market.
Food delivery service remains unprofitable as operators subsidise the cost of the delivery drivers and allocate high marketing budgets while paying high fuel prices. According to data analytics firm Creden Data, the four major players -- Line Man Wongnai, Grab Thailand, Foodpanda and Robinhood -- in 2021 posted combined losses of more than 8.6 billion baht. In 2022, Line Man reported a loss of 2.7 billion baht, according to information updated by Creden Data.
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