Fast-growing Vietnamese startup offers one subscription for every lifestyle need

Subscriptions are like opinions: these days, everybody has one or five. Deloitte reports that 50% of adults had at least two online-only media subscriptions at the end of 2018, and it predicts that number will double to four by 2020.

The trend doesn’t just apply to digital media, either. According to Forbes, 15% of online shoppers in the US have signed up for at least one subscription to receive a wide range of physical products on a recurring basis, from makeup and meal kits to pop culture paraphernalia and kawaii Japanese knick-knacks.

But what if there’s an all-encompassing subscription that covers everything from lunch to booze?

Those are just two items that Wisepass, a Vietnam-based startup, offers its subscribers. For as low as US$32 a month, subscribers can get not just meals and alcohol but coffee, movie tickets, and more.

All users have to do is to go to a participating venue, scan a QR code at the counter, select a valid item and redeem it on the spot. At the moment, Wisepass is available at over 300 venues across four cities: Ho Chi Minh City, Hanoi, Bangkok, and Manila.

There is, however, a limit to the number of daily redemptions. Wisepass membership comes with different price tiers and corresponding perks. At the low end of VND 750,000 (US$32) per month, subscribers get to redeem one “standard item” per day: coffee, movie tickets, VIP dining, access to coworking spaces, and the like.

On the high end is the monthly VND 15 million (US$643) premium membership, which allows for either two “standard item” redemptions per day, or one “premium item” redemption per day. Examples of premium items include higher-end alcohol and fine-dining experiences.

And then there’s the most exclusive planned price tier at US$4,000 a month, which would allow subscribers to get even more high-end items, such as 25-year-old whiskeys.

The origin story

The Wisepass idea began in August 2016, when its CEO and co-founder, Tran Lam, was hanging out at a local bar in Ho Chi Minh City. “I remember asking for a bottle of whiskey, and it was more than US$200. It was outrageous, so we had beers instead,” Tran recalls. “After that, I called a friend of mine [who] sold Jack Daniels. I told him I was going to buy all [his Jack Daniels] and send them to bars. We signed a contract with a few bars and restaurants. We told them customers would come, scan a QR code and get a bottle of Jack Daniels for free.”

Bars and restaurants were keen on the idea because of the increased foot traffic and the fact that customers don’t stop at one drink.

For consumers, signing up for a monthly membership for a free bottle of Jack Daniels every night turned out to be a great hook. From whiskeys, Wisepass then began to offer vodka, gin, rum, and wine – all nightlife staples. In fact, Wisepass was primarily a nightlife app for a time, with the tagline: “What do you want to do tonight?”

However, just offering alcohol wasn’t enough. Even though the worldwide alcohol market is massive, the Vietnamese market for it is still growing. So, the company asked subscribers what they wanted out of the service.

As a result, Wisepass now offers free meals, movie tickets, coffee, cigars, and even stays at high-end villas.

Competition is heating up

The initial stumble