foodpanda drives $1.2bn boost to Pakistan economy: study

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KARACHI: According to an independent study conducted by the Lahore University of Management Sciences (LUMS), food panda operations in Pakistan’s economy in the financial year 2023-2024 helped Rs 1.2 billion (Rs 3335 billion).

The report, titled ‘Diagnosis of Food Panda’s Economic Impact Diagnosis of Food Panda in Pakistan’, highlights the platform’s far -reaching impact on the platform on the creation, business capabilities and financial inclusion of Pakistan. The study identifies the strong multiplication effects created by the Food Panda’s ecosystem, especially in food, hospitality, manufacturing, transport and retail. Only in the financial year 2023-24, the platform enabled Rs 75 billion in the overall commercial value of the restaurant (GMV)-which shows its role in strengthening the total income-raising and hospitality sector through the restaurant through the app.

One important thing is that during the same year, food panda taxes have a contribution of Rs 9.76 billion, as well as directly empowered by more than 50,000 freelance riders and thousands of traders through digital and financial access.

The study also revealed that more than 13,000 restaurant partners experienced an increase of 100 % income, while 7,000 Plus Home Chief – mainly women – earned an average of Rs 1220,000 each month. In addition, 57 % of the riders reported the increase in income due to the platform.

Many home chefs talking to the news highlights that selling their food through the app means that they can worry less about overhead costs and logistics and focus more on simply making food. Home Chef Kashif Pasha said, “I don’t have to worry about hiring delivery riders, dealing with payment system or investing in expensive marketing campaigns.” He added “Analytics and data [foodpanda] Provide[s] Assist[s] I understand what my users like and allows me to improve my menu and enhance my business with a strategy.

Talking to the media on the occasion of the launch of this report in Karachi, Food Panda Pakistan CEO, Manantika Paracha, praised the results, “This deep study through Looms is a powerful confirmation of the role of Food Panda in Pakistan’s economic phenomenon.

“The most beneficial part is connecting with my customers,” said another home chef, Aroj Liakot. There are a transparent way in getting a direct feedback on food panda and reviews directly, which has helped me improve my utensils and build confidence. Positive reviews and repetition users have a great sense of love and pride.

“Our research shows that the effect of food panda is much higher than food supply,” said Dr. Kashif Ze Malik, an associate professor of Looms and the main author of the study.

According to a home -based chef, “Before food panda, I had only one hobby before cooking. Now, they have given me an easy way to manage a customer base and orders, which allows me to focus on my hobby while earning a living and financial freedom for my family.”

In addition to Home Chefs, Percha also identified the work that food panda does for the fleet of its riders, provides them with special discounts on theft, life and personal accident insurance, motorcycle purchase loans loans and tires and maintenance. He also said that the company aims to convert 30-40 % of its fleet into e-bikes and have to support the policy in this front, especially a network of chargers for riders.