Southeast Asia's Highest: GrabFood's Transaction Value Surpassed GoFood and ShopeeFood in 2021

A Momentum Works report notes that GrabFood, Grab's food delivery service, boasts the highest gross merchandise value (GMV) in Southeast Asia. In 2021, it reached US$7.6 billion (approximately Rp 109.4 trillion), a 28.8% surge from US$5.9 billion the previous year.

Meanwhile, its competitor GoFood from Gojek ranked third in Southeast Asia with a GMV of US$2 billion (Rp 28.8 trillion). ShopeeFood followed in fifth place with a GMV of US$900 million (approximately Rp 12.9 trillion).

According to Momentum Works, Grab's food delivery service strength lies in four key areas: lower user and partner acquisition costs, local leadership with product localization, strong relationships with local governments, and its successful IPO.

However, Grab also faces challenges in managing its hyperlocal growth across different countries. It needs to balance the product, technology, and data needs of various business units under its superapp.

Gojek's strength, meanwhile, centers on Indonesia, where it achieved the highest GMV in Southeast Asia in 2021 at US$4.6 billion (Rp 66 trillion). This allows Gojek to more effectively allocate products and operational resources.

(Read More: 10 Unicorns with the Highest Valuation in ASEAN, Three from Indonesia)