keeta, the overseas version of meituan, is launched in saudi arabia. there are great opportunities for food delivery in the desert.
2024-09-25
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recently, keeta, the overseas version of meituan, was launched in al kharj, saudi arabia, marking an important step for meituan to go global.
under the overall plan of "vision 2030", getting rid of the single oil economic structure and developing a digital and diversified economy have become important goals for saudi arabia's overall development.
meituan’s launch in saudi arabia reflects the gradual change in local users’ consumption habits and scenarios, and also highlights the huge potential of the digital economy in saudi arabia.
delivery time is accelerated to within half an hour
al kharj is located southeast of riyadh, the capital of saudi arabia, only 180 kilometers away from riyadh. the reporter opened keeta and found that the application is available in two languages: arabic and english. after locating al kharj, you can see that the city's takeaway business has been launched, and customers can also choose to pick up their own meals. at the top of keeta's homepage, a discount section with an average price of 15 saudi riyals (about 28.1 yuan) is launched, with a minimum discount of 40% and a maximum discount of 73%. the takeaways in this section are marked with free delivery. it is reported that about 500 merchants have settled in the platform, including kudu, the largest sandwich chain brand in saudi arabia. local hot-selling shawarma (a common grilled meat roll in the middle east), fried bean balls, etc. can be ordered, and global chain brands such as starbucks and burger king are also online.
it is reported that the local takeaway delivery time in saudi arabia is about 1 hour. the entry of keeta will speed up the delivery time to 20 to 30 minutes.
according to keeta's description on social media, the platform plans to expand its business to riyadh next month. meituan recently stated that overseas business is an indispensable part of its long-term development strategy. since april, meituan has been actively deploying in saudi arabia and recruiting employees for multiple positions in riyadh, involving product operations, business development, riders, sales operations management, etc. people familiar with the matter revealed that in the future, meituan will cover large cities such as riyadh in saudi arabia, which have a large population and high consumption capacity and willingness.
saudi arabia's food delivery market has huge potential
meituan's expansion into saudi arabia also highlights the huge potential of the local food delivery market. under the planning of "vision 2030", saudi arabia is gradually diversifying its economy, providing a broad stage for entrepreneurs and attracting the attention of global investors. international food delivery giants have been deeply rooted in saudi arabia for many years, and saudi arabia's local food delivery platforms have also risen rapidly in recent years. take jahez, the country's leading food delivery company, as an example. the company raised $2.4 billion in its initial public offering in 2022 and now covers more than 50 cities in saudi arabia, with a user base of more than 1.3 million.
in recent years, saudi arabia has shown an increasing interest in chinese internet companies. marcus diebel, an analyst at jpmorgan chase, said keeta's entry into the saudi market is a testament to the competitiveness of chinese internet companies in saudi arabia.
the strong food delivery market in saudi arabia is driven by multiple factors. first, the country's digital economy and infrastructure are at the forefront of the gulf countries, and it is one of the most dynamic economies in the gulf countries. the latest report released by the saudi general administration of small and medium enterprises said that by 2025, the value of saudi e-commerce revenue is expected to reach 260 billion riyals, and e-commerce is expected to contribute about 12% of saudi arabia's gdp next year.
the booming e-commerce industry benefits from the popularity of mobile payments. saudi arabia has a wide range of internet applications, which are close to achieving universal coverage. in 2023, young people under the age of 30 will account for 45% of the population. young people have strong purchasing power, pursue the latest consumer technology, and generally have the habit of placing orders with mobile phones.
according to estimates by data platform statista, the total revenue of saudi arabia's food delivery market is expected to reach us$11.74 billion this year, with a user penetration rate of 44.2%. by 2029, the saudi food delivery market is expected to have 19.5 million users. some commentators said that driven by convenient consumption and mobile payment culture, saudi arabia's food delivery market is booming.
as living standards continue to improve, saudi people have a strong demand for food, which also provides huge development space for the catering industry. relevant data show that the scale of saudi arabia's catering market was us$25.872 billion last year. since the saudi government announced the "vision 2030" in 2016, nearly 300 new restaurants have appeared in riyadh, providing residents and tourists with more abundant dining options, which also stimulated the development of the takeaway industry.
author: shen qinhan
text: shen qinhan photo: keeta app editor: liu chang responsible editor: yang yang
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