Are you searching for a reliable food delivery service? Look no further!
GS Retail, the leading retail and distribution company in South Korea, is enhancing its presence in the market by taking over Delivery Hero’s food-delivery app, Yogiyo. So grab this opportunity to experience delicious meals delivered from your favorite restaurants!
Introduction to GS Retail & Delivery Hero
GS Retail Co. Ltd. and Delivery Hero SE have agreed to form a strategic partnership by combining the well-established offline distribution network of GS Retail in South Korea with Delivery Hero’s technology platform expertise and leading market position in online food delivery. As a result, the alliance will drive further innovation and advancement in the Korean food delivery market by providing customers with more options as well as improved customer experience across both offline and online channels.
Delivery Hero SE is a Berlin-based, publicly listed global leader in online delivery. Its subsidiaries operate across five continents: Asia Pacific, Europe, Latin America, Middle East & North Africa, and North America. Due to its strong reach and industry-leading technology solutions, it controls a plurality of orders processed through the major web platforms such as Naver Food Talk Plus, KakaoFood Delivery and Baemin Fresh & Baemin Delivery.
GS Retail Co., Ltd., is South Korea’s leading multi-retailer providing quality convenience store solutions for its customers. Leveraging its unified distribution network of stores, logistics capabilities and collaboration with several companies from various industries – from textile manufacturing to beauty products – GS Retail has solidified itself as one of Korea’s favored retailers for everyday living needs.
Overview of Yogiyo
Yogiyo is a mobile app-based food delivery service offered by South Korean company Delivery Hero. Through the Yogiyo app, consumers can order freshly prepared meals from participating restaurants near their location and have them delivered to their doors. The core features of Yogiyo include real-time restaurant information, including estimated delivery times and ratings; ordering without membership registration; and payment via credit card or bank transfer.
The service was launched in South Korea in 2010 and is now available in over 150 cities nationwide. In 2019, Delivery Hero partnered with GS Retail to offer its services in Korea. The partnership will see GS Retail provide its logistics resources to Delivery Hero’s operations, including providing drivers who can deliver orders within a 30-minute window. This will provide a boost to both companies’ food delivery businesses, as well as giving consumers more options for freshly cooked meals from local restaurants.
GS Retail-led group to buy Delivery Hero’s food-delivery app Yogiyo
The acquisition of Yogiyo by GS Retail is expected to offer many benefits to customers, restaurant partners and the overall food delivery industry in South Korea. By leveraging the capabilities of Delivery Hero, the parent company of Yogiyo, GS Retail will be able to expand its portfolio of services and reach more customers. It will also provide better customer support and a wide range of options for online delivery.
Through the acquisition, GS Retail will provide restaurants with additional tools for managing orders using “the smartest restaurant technology” developed by Delivery Hero. This includes an automated order management system that optimizes prices, processes payments and updates menus in real-time. It will also enable restaurants to maximize profitability while delivering fast service and quality meals through multiple channels such as mobile applications, websites and chatbots.
Furthermore, GS Retail plans on introducing international food delivery services available on Yogiyo that are currently non-existent in South Korea – such as “Food Delivery Express” which allows customers to select from various meal options at multiple restaurants within 15 minutes or less. In addition, it will enhance its existing delivery services with features such as one-click payment systems or automatic reordering functions for regular orders. These new services are expected to revolutionize the logistics side of food delivery in South Korea by making online ordering more efficient and convenient for customers and businesses.
Expansion of GS Retail’s Food Delivery Business
South Korea’s largest convenience store operator GS Retail Co Ltd has announced plans to expand their food delivery business by forming a strategic partnership with Delivery Hero. The German company is one of the world’s largest internet-based food ordering platforms and operates various food delivery platforms in 33 countries, including South Korea’s homegrown platform, Yogiyo.
Through this partnership, GS Retail aims to build upon its current online order system and further bolster its ambitions by increasing customer convenience and providing quality food delivery services. With Delivery Hero’s expertise in developing successful online ordering systems, GS Retail’s current ordering capabilities are expected to be enhanced shortly. As a result, customers can expect to find a wider range of menu options backed by fast and reliable delivery service — topped off with value-added benefits such as discounts and promotions.
GS Retail projects that this collaboration with Delivery Hero will provide added opportunities for expansion into new markets domestically and abroad — thus creating a more comprehensive network of restaurants throughout South Korea.
Increased Customer Reach & Engagement
Through its partnership with Delivery Hero’s Yogiyo, GS Retail aims to significantly expand its delivery reach and provide customers with the convenience of on-demand food delivery services. The service will offer customers an enhanced online ordering experience that maximizes convenience and consolidates the ordering process by providing users with added options, such as delivery time slots, search functions, payment methods, and tailored menu options. In addition, customers can track orders from start to finish through a real-time tracking system.
By leveraging Delivery Hero’s technology and systems capabilities, GS Retail will gain access to new markets across South Korea–including Seoul and Busan–and provide excellent end-to-end experiences for their customers. The partnership also allows GS Retail to leverage Yogiyo’s established user base of millions of loyal customers in areas with limited store presence. This increased customer reach will strengthen engagement with existing and potential customers while growing revenue opportunities for GS Retail.
Potential Challenges for GS Retail
The partnership between Delivery Hero’s Yogiyo and GS Retail is part of a larger push by the Korean convenience store operator to expand its food delivery business. However, partnering with Delivery Hero’s Yogiyo may also have potential challenges.
Firstly, it’s important to ensure that the partnership is mutually beneficial. Delivery Hero’s Yogiyo and GS Retail need to be clear on expected deliverables and how they will divide responsibilities and share profits when working together. In addition, both companies must agree on a set timeline for launching and achieving goals for their joint venture.
Moreover, the success of this partnership will depend on GS Retail’s ability to fulfill orders promptly given their limited store network and internal infrastructure. An effective logistics strategy is crucial for ensuring efficient delivery given its role in minimizing delays in order fulfillment which would likely lead to customer dissatisfaction. Furthermore, there are safety concerns about protecting customer data when orders are being placed online and transporting food safely within legal regulations related to food preparation and delivery.
Lastly, GS Retail also needs to consider how this venture might impact their existing consumer base that visits stores to buy their products directly such as customers wishing for greater convenience or those offering grocery pickup services. Thus, both companies should work together closely to understand the competitive landscape in each city where the service will be offered before developing strategies tailored around local consumer needs that maximize these opportunities while mitigating risks associated with entering new markets.
Impact of GS Retail’s Acquisition on the Food Delivery Market
The acquisition of Delivery Hero’s Yogiyo by GS Retail marks another key move in the rapidly growing food delivery market. By leveraging the technology developed by Yogiyo, GS Retail can gain a foothold in this market and establish itself as a leader in the space.
Furthermore, with GS Retail’s expertise in offline retail and experience in logistics, this move could revolutionize access to food for people all over South Korea. On top of that, its integration can open up possibilities for further expansion into other Asian markets.
Additionally, this collaboration has a potential impact on the restaurant industry in South Korea as it paves way for increased digitization of their services. In particular, more restaurants will be encouraged to join Yogiyo’s platform to reach more customers and generate more revenue. Meanwhile, this could potentially lead to an increase in competitiveness among restaurant owners since they will have to reevaluate their strategies and pricing according to changes in demand throughout different regions and times of day.
As such, it is clear that the acquisition of Yogiyo by GS Retail can have far-reaching impacts on multiple industries related to the food delivery market. It will be interesting to observe how these changes play out across South Korea.
Overall, the partnership between GS Retail and Delivery Hero is mutually beneficial in creating opportunities for both companies.
The takeover of Yogiyo provides GS Retail with a foothold in the online food delivery market and an experienced delivery service provider experienced in operating on a digital platform. This will enable them to leverage Delivery Hero’s expertise in offering quality service and efficient logistics so that they can further expand the reach of their business accordingly.
On the other hand, Delivery Hero benefits from a larger presence in South Korea and additional capital from GS Retail, enabling it to grow its existing operations.
With this strategic collaboration, companies will likely benefit from operating together to gather customers or users for deliveries.