Welcome to The Checkout! Delivered every Thursday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in ecommerce. Get it in your email inbox by registering here.
Hi there,
Unfortunately, we have to start with the not-so-good news.
Berlin-based instant grocery startup Gorillas earlier this week announced it would lay off about 300 employees. According to TechCrunch, the startup was valued at US$2.1 billion just seven months ago after landing close to US$1 billion in its series C round.
The promises of these quick commerce startups always amaze me. For example, Gorillas’ slogan is “Faster than you.” Meanwhile, Fridge No More, a New York City-based 15-minute grocery delivery startup, promises to deliver for free – even if your order is just one apple. The company closed down in March.
The question is: Do we really need to have one apple delivered to us that quickly?
Amid public market turmoil, concerns are mounting over the sustainability of these ventures and whether they really benefit end consumers.
This is not to say that the apocalypse of quick commerce is here. In Southeast Asia, this trend has just begun.
In this week’s Big Story, my colleague Jofie Yordan maps out the main quick commerce players in this region. The space is getting tighter, drawing even heavyweights like Grab (GrabMart Kilat), Foodpanda (Pandamart), and Tokopedia (Tokopedia Now) into the mix.
Speaking of a heavyweight, TikTok is reportedly pushing for in-app gaming in Southeast Asia. I wrote about how that move fits with its ecommerce ambitions in this week’s Hot Take.
– Huong
THE BIG STORY
The key players in Southeast Asia’s quick commerce space
Image credit: Timmy Loen
Quick deliveries are increasingly becoming the norm rather than the exception. But there are challenges.
THE HOT TAKE
NEWS YOU SHOULD KNOW
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
