Grab engages ‘loyal’ customers to spur revenues
Super app operator Grab sees its subscription-based loyalty program as a “strategic growth lever” that could drive revenues.
The digital platform, which offers ride-hailing and delivery services, among others, said GrabUnlimited was a “unique, ecosystem-wide program as a key growth lever and competitive advantage over monoline providers.”
The program was recently launched in the Philippines, Indonesia, Malaysia, Singapore and Thailand.
“For a flat monthly fee, users enjoy benefits and deals across various services on the Grab super app, including mobility, food and parcel deliveries,” it said.
Grab observed the program has resulted in increased user engagement and retention and larger order volume and order value.
It said the average GrabFood gross merchandise value (GMV) of GrabUnlimited subscribers is 2.4 times more than that of nonsubscribers. GMV refers to the total value of transactions in the super app’s services.
Grab is also looking to maximize its partnerships with grocery and mart operators to boost top line figures.
Grab Holdings Ltd. earlier said it was eyeing to break even on the group’s adjusted earnings before interest, tax, depreciation and amortization by the second half of 2024.
The company was also expecting revenues to surge by 45 percent to 55 percent next year.
“We’ve been firing on all cylinders to improve our profitability trajectory and deliver growth in a sustainable manner and the new targets we’ve shared today reflect that,” Grab chief executive and co-founder Anthony Tan said.