[True Hong Kong stock trends] Meituan (03690.HK) launches its new takeaway platform KeeTA Mongkok and Tai Kok Tsui as the first batch of pilot projects

2023year5month21Japan, the world's largest takeout platform$MEITUAN-W (03690.HK)$KeeTA, its new takeaway brand, was officially launched in Hong Kong. The densely populated Mongkok and Tai Kok Tsui will be the first phase of KeeTA's pilot phase, and services will be gradually expanded to new regions, which are expected to cover the whole of Hong Kong by the end of the year. Residents of Mongkok and Tai Kok Tsui districts can use takeout services and receive welcome offers through the KeeTA App. The KeeTA App will officially launch a food delivery service tomorrow (22nd) after the restaurant opens at 8 a.m.

Photo Caption 1: KeeTA lands in Hong Kong to launch a “billion rewards” program to attract new customers

As soon as KeeTA landed in Hong Kong, it offered discounts to the public and launched a “1 billion rewards” program to attract new customers and restaurants, including dining offers, free shipping, etc. Each new registered user will receive a coupon worth 300 yuan. The discount rewards include value-added zone coupons, surprise “full” coupons, free shipping vouchers, etc. At the same time, KeeTA will also bring traffic and marketing resource support to partner restaurants.

KeeTA's first batch of partner restaurants include McDonald's, Maxim, KFC, Yoshinoya, Pacific Coffee, etc., and also covered popular local restaurants such as Huayujie, Hongfu Tang, Nanji Noodle, Heart Porridge Restaurant, Kensho, and Eat Tea 3000. KeeTA is currently discussing cooperation with Italian Restaurant, 100% Restaurant, Milk Ice Room, etc. under the Asia International Restaurant Group, and more restaurants will be added soon.

Currently, in the KeeTA app, the minimum purchase amount for many food items is only 50 to 60 yuan, which is significantly lower than other platforms.

The One Billion Rewards Program stirs up the Hong Kong takeaway market to benefit diners, restaurants, and riders

As a new platform, KeeTA immediately sends lucky bags to attract new customers. With the emergence of new competitors in the takeaway market in Hong Kong, it is expected to bring users better choices.

The billion rewards program promoted by KeeTA not only directly sends out coupons to users, but also works with restaurants to launch special discounted food and free shipping. For example, if a new user uses a new customer coupon, they can even eat the McDonald's Big Mac hamburger package for less than 50 yuan. Other rewards include inviting friends to register. If they place an order within 7 days, the inviter can receive a large “full discount” voucher worth 50 yuan. The platform will also launch the “Daily Count” campaign for a long time, and randomly distribute coupons every day.

Photo Caption 2: Sign up and get a $300 welcome offer

Furthermore, with the support of the 1 billion incentive plan, the platform's sales and market resource investment is quite impressive. Whether it is restaurants that already provide takeout services or traditional restaurants that are still on the sidelines, they will benefit from this dividend period.

Maxim Group, a major restaurant group in Hong Kong, its fast food brand Maxim MX (Mongkok area), has now launched KeeTA. Maxim Group's business covers a wide range of fields, including Chinese food, Western food, Japanese food, Southeast Asian cuisine, fast food, bread, coffee shops and catering. The Group is also the operator of the internationally renowned brands Starbucks, Genki Sushi, Ippudo Ramen, The Cheesecake Factory, and Shake Shack in different regions.

A Maxim Group spokesperson said, “Our fast food brand Maxim MX positions an upgraded fast food dining experience. The partnership with KeeTA stemmed from insight into the growing demand for takeout services from Hong Kong diners, especially takeout for one person. After entering KeeTA, Meixin's high-quality, delicious and cost-effective food combined with KeeTA's high-quality and punctual delivery service will provide Hong Kong citizens with richer and more convenient high-quality takeout options.”

Some industry insiders analyzed that the takeout industry in Hong Kong is still growing, and the variety of takeout meals and the space to choose from cannot meet all the needs of consumers. As consumers use takeout services more frequently, I believe more restaurants will choose to enter takeout platforms in order to explore new financial resources.

For delivery workers, KeeTA also offers a variety of reward programs, including welcome. At the same time, rewards for delivery workers will also be increased under special weather conditions. In the early years, Meituan, the parent company of KeeTA, won the trust of mainland users with its efficient and fast delivery network, and the image of “delivering anything fast” was deeply rooted in the hearts of the people. The KeeTA team has rich experience in organizing delivery personnel and operations, and can also ensure that diners can enjoy services and products that arrive on time anytime, anywhere. In terms of delivery workers' safety and security, KeeTA has fully covered the courier's commercial insurance.

The original “one-person diner” covers 60 mosquitoes for shipping

During the pandemic, Hong Kong experienced two month-long dinner dine-in bans, and diners' demand for takeout increased dramatically. However, according to research institutes, the total takeout transactions in Hong Kong currently account for only 8.3% of the total market in the catering industry, which is still far from 21.9% in the Mainland.

“Expensive” is the biggest obstacle for Hong Kong consumers to use takeout services. According to historical industry data, most takeout platforms in Hong Kong have a high minimum spending threshold. Takeout prices themselves have exceeded dine-in prices by nearly 30%. Coupled with high delivery costs, the average takeout order price is as high as 160 to 180 yuan.

The “One Person Diner” section, which is prominently located on the KeeTA App homepage, is a special all-inclusive (including meals and shipping) takeout package section launched by KeeTA. It aims to solve the problem of high shipping costs and minimum consumption barriers in the Hong Kong takeout market to meet the needs of local diners for takeout for one person. Most of the zone focuses on high-quality, cost-effective food. Plus, it only takes 60 yuan to “get the meal”.

Photo Caption 3: One-person diner zone package as low as $60

In the current one-person cafeteria section, chain brands such as KFC, Nan Ji, Cha Xing Ren, Cha Chang Sushi, and Cha Sheng Xiang are already on the list. There is also no shortage of popular local restaurants, such as Xinji Chicken Porridge, Aunt 13, South Vietnam Café, and Old Treasurer's best-selling foods, covering various categories such as Chinese food, Western food, Japanese food, and tea drinks. No matter when to eat, consumers can choose the right products in the one-person dining room to meet the dining needs of one person, and they can also make new products every day, and the quality package will not be repeated.

Merchants participating in the “One Person Diner” will appear in prominent places in the app and can receive sufficient traffic support from the platform without additional advertising investment. The food selection model in this section will make it easier for merchants to centrally purchase and prepare meals in advance to optimize costs, thus achieving “small profit and multiple sales”. Currently, most of the contracted restaurants have joined the special zone.

Exclusive launch of the Punctual Guarantee to pay for overtime takeout

In addition, KeeTA has also launched an exclusive “on-time guarantee” policy to pay for overtime takeout. This product is mainly used to solve the problem of untimely delivery of takeout in Hong Kong and guarantee the consumer dining experience. Users can get the on-time insurance service after placing an order. There is no need to pay any fees for this insurance service; all costs will be covered by KeeTA. “On-time Guarantee” is also a performance guarantee service exclusively launched by KeeTA, and there is no similar guarantee in the industry.

According to the rules, when the actual delivery time of the user's order exceeds the estimated maximum time by 15 minutes, KeeTA will reimburse the eligible order for a different amount of coupons without any entry points, and the compensation coupons will be automatically sent out within about 24 hours.

In addition to a complete overtime compensation policy, KeeTA also provides on-time rewards for delivery workers, encourages delivery agents to deliver on time, and uses delivery technology to improve delivery efficiency to ensure that diners start their meals on time with the utmost sincerity.

A KeeTA spokesperson said, “After the outbreak in previous years, the takeout market in Hong Kong has developed rapidly, but we are still receiving comments and requests from diners, restaurants, and delivery personnel. By meeting consumers' demand for quality takeout services, KeeTA connects food and beverage merchants, helps them open source, and brings more flexible and rewarding job opportunities to delivery workers. As a new platform, KeeTA will insist on delivering good takeout and strive to create value for Hong Kong citizens and society in every way.”

The meaning of the KeeTA brand name is also related to “fast.” The word Keeta was inspired by the term cheetah cheetah, and cheetahs are also famous for their flurry of energy. “Fast and efficient takeout services have always been the pursuit. Cheetahs are also the oldest and most unique breed among feline members. KeeTA also hopes to carefully deliver takeout and take a seat in the Hong Kong market to bring a faster and better service experience to the public.”

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