In 2018, the annual sales of small red car take-out has exceeded 25 million Canadian dollars, the average daily order has exceeded 2000, and the average unit price has reached 35 knives.
Image Source Pexles
Hai Chuangpai HiTrends reported on August 9 (author Dragon)
When Uber landed in the US capital market and set a record for the 2015 IPO, a Toronto-based Chinese takeaway company hopes to take food from the tiger’s mouth and take a slice of the segment.
According to the latest data disclosed by Uber, take-away has become one of the fastest growing businesses of these giants in the past few years. Compared with the same period last year, it has grown by more than 89%. In the first quarter of this year, sales exceeded 3 billion. Dollar.
Food Hwy small red car takeaway founder Han Di told Haichuang HiTrends, his entrepreneurial entry point is around the major universities in North America, mainly Chinese students, cutting Chinese food into the market, let local Chinese International students can still feel the taste of their hometown on the other side of the globe.
The pain points of the overseas Chinese take-out market mainly exist in the English translation of the Chinese menu and the remote cities are not covered by the giants. In fact, the local dining group has a large demand for Chinese food take-out, but the giants cannot match well. , B ends.
The target user groups of overseas Chinese outsourcing platforms are currently concentrated in the international student market. Taking the more competitive Canadian market as an example, the high cost of meals, bad weather and wider areas on campus have become the main reason why Chinese students are difficult to eat. The data revealed by Han Di is that by the end of 2018, about 140,000 Chinese students will gather in major cities such as Toronto, Vancouver, Montreal, and Waterloo in Canada. The annual order can reach $1.5 billion, and with Canada. The further opening of the immigration policy has grown by more than 7% annually.
Food Hw The small red car is located around the city and is surrounded by the city. It has already entered 16 cities and is exploring two regions. In 2018, the annual sales of small red car take-outs have exceeded $25 million, and the average daily order has exceeded 2,000, and the price per order has reached $35. Its annual overall order growth rate is over 250% and continues to grow.
In the view of Food Hw, it’s better than Ube.The lower level of rEats is and the Chinese cultural service is its core competitiveness. The data they revealed to HiSoft’s HiTrends is that the number of Chinese businesses currently signing with UberEats is less than 25% of the total.
In Canada, it’s not just Food Hwy, a startup team that sees the prospect of this segment of Chinese food takeaway. The lazy take-away, lynx life, rice group take-out and FOD teams are the main competitors of Food Hwy’s small red car, and since the beginning of this year, there has been price subsidy in the market competition, which may mean the market competition is intensifying.
In the increasingly competitive Canadian market, Food Hwy’s solution is to enter the wider US market.
Food Hwy’s small red car saw data in a market research report: Compared with the Canadian market, the number of Chinese students in the US market is about three times that of Canada, and the GMV of the American Chinese students in the take-away market can reach As much as $4 billion. And the mature Chinese takeaway platform is very few, a blue seascape.
This phenomenon is mainly due to the difference in immigration policies between the two countries. It is more difficult for American graduates to stay in the United States than Canada, so there will be significantly fewer Chinese students studying at university. With Canada.
At the end of 2019, we will cut into the eastern US market, copying the existing business model, and aiming to win 8 cities where Chinese students gather, let small red cars enter the US!” Food Hwy Marketing Director of Xiaohongqi Zhang Xin said.
With the increasing overweight of giant Uber’s outbound business, how Chinese entrepreneurs in this field can fight against the giants, HiSoft’s HiTrends will continue to pay attention to this market.
