ave’s virtual retailer platform has launched Fave Takeaway in Singapore, a service that enables its customers to order meals on the go, make payments through FavePay, and receive their orders through the Fave app from participating stores.
They include Paul, Wafuken, Menya Musashi, Ajisen, Tokidon, Isaac Toast, Tuk Tuk Cha, BBQ Box, and Chicken Up. With the new service, Fave users will be able to enjoy cashback and rewards offerings.
“As the government continues to push for a digital and streamlined economy, Fave helps small and medium-sized businesses adapt to the new environment and provide them with the resources to allow them to serve their customers in the best and most efficient way possible,” said Joel Neoh, Fave’s co-founder and CEO. “Takeaways launch is our way to enable our merchants to make the most of the platform by increasing productivity and income. “Fave said that this year’s releases of both Table Ordering and Takeaway services reflected their aim and determination to become a mega app.
According to Google, Temasek, and Bain & Company, the company is taking on the internet economy in Southeast Asia, which is set to rise to US$ 100 billion in 2019, more than tripling in size over the past four years.
Fave also noted that the food and beverage industry is at the moment contributing 0.8 percent of Singapore’s GDP, with a total value of S$877 million (US$ 640 million) as of July 2019, with no signs of slowing down, even as other sectors, such as the retail sector, are facing this year’s decline in sales. In the next five years, the F&B sector is set to grow at a compound annual growth rate of 2.1 percent.