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Like other competitors, PedidosYa wants to retain its competitive edge while still managing to grow. To accomplish this, now the South American startup plans to release an electronic wallet by 2020. On top of this, there is also a subscription service in the works.
“We want to improve the platform and the user experience with new features such as the subscription program and the electronic wallet,” said Juan Martín López, managing director of PedidosYa. “This will allow a better closure of the ecosystem so that users can pay over the platform.”
Reports say that it will be similar to what Rappi has achieved with its RappiPay add-on. Considering that around 90 percent of transactions go through mobile devices, electronic wallet capabilities may be a big hit among PedidosYa customers.
Follow by example
Perhaps following Rappi’s move, the startup also recently introduced new consumer items to its distribution. These include medicines, alcoholic beverages, supermarket deliveries, etc.
“It was recently launched and requires an important maturity period, but we aim to make 30 percent of our total revenues by the end of 2020,” said López.
While market competition gets more saturated, the executive stresses that the company is still floating above water. For example, the startup hasn’t seen any decrease in orders since 2017, according to iProUp. If anything, more last-mile delivery options provided publicity for the company in the process.
“Even the high competition caused the service to be known and that was thanks to the proliferation of the other actors,” said López.
Outside of its native Uruguay, PedidosYa operates in Argentina, Bolivia, Chile, Colombia, Panama, as well as Paraguay. Today, it employs around 15,000 distributors throughout the region.
Not only does PedidosYa share similar aspirations as its competitors, but it has also experienced similar backlash as part of the last-mile delivery industry. Along with Rappi and Glovo, Argentine authorities suspended PedidosYa’s operations in Buenos Aires until the companies address safety concerns.
Normally, PedidosYa tries to adapt to the best of its ability in foreign markets. Regarding Argentina, though, timing may not have been on the company’s side.
“In every market, we adapt to the operational and legal framework,” said CEO Ariel Burschtin. “We started in a way in the Argentine market while the local dynamics were changing. We are accompanying that process as best as possible.”