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Feedback for macroeconomics prelim analysis

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Feedback for macroeconomics prelim analysis

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Hello Team,
Thanks for sharing your prelim analysis with me. You’ll find below, feedback from me for your second stage work. Please note that the grow areas are specific to what I read on your padlet wall. It doesn’t mean these are all you need to do, to deepen your analysis for stage 3 presentation. I’m sure you’ll find more concepts or new info to deepen your analysis along the way. So feel free to expand your analysis. It also doesn’t mean that you have to address all that I’ve mentioned below. As a team, discuss and come to a consensus.

Just to be clear, there is no need to amend your prelim analysis on padlet. My feedback are meant for you to consider when you work on deepening your analysis in stage 3 (Presentation and the slides)

Glows:
I like the specific industry prelim analysis mentioned in your content and hope to see more of these in your presentation. References are relevant and recognised, feel free to read ministry report etc as you deepen your analysis.

Grow areas:
This part is about the big picture so we first have to examine the economy as a whole before looking at your chosen industry.

Room for growth in terms of applying more economic concepts to your analysis.

Specific comments
Good info about the state of the delivery platform industries.

To make this analysis more of a "big picture", Team could start the segment by identifying the key sectors in the economy, a few key reasons accounting for the change in real GDP before zooming into the industry.

Labour Force
Underemployment is a good point but it should come from the angle of people taking up this job because they are being laid off from their regular job and less of the lesser orders.

Similarly, got to look at the overall employment situation before zooming in. E.g. the type of unemployment that is prevalent and the causes.

Government measures
Nice specific policy but there's more to be included. Hint: How to get business on board so that more users would find more choices and use the app.

Feel free to bring in general policies that help the economy as a whole too.

Inflation
Good find about the increase in delivery fee.

Since inflation is described as the overall increase in prices of the basket of goods and services and not just a single price increase of an item, it would be good to first take a look at what are the key price changes if items in the economy as a whole before looking at pricing of delivery.

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https://www.statista.com/statistics/1237080/gdp-of-food-beverages-services-singapore/

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In 2020, the gross domestic product (GDP) of the food and beverages services in Singapore amounted to approximately 4.4 billion Singapore dollars. The decrease from the previous year was due to the negative impact of the COVID-19 pandemic on the foodservice sector. The pandemic has forced some businesses to adapt and has made everyone look forward to returning to a new normal.

The impact of COVID-19 on Singapore's food services sector

The COVID-19 Pandemic has affected the GDP growth rate of most industries in Singapore negatively, with the food and beverages (F&B) sector contracting about 25 percent in 2020. The stay-at-home order and safety measures that were in place, known as the "Circuit Breaker", have led to multiple closures of restaurants, cafés, and others that make up the competitive F&B scene in Singapore. As businesses have to either adapt or succumb to the effects of social restrictions, some have embraced delivery services, as people ordered more with delivery apps than ever before.

Return to a new normal

As the world slowly starts to open up again and Singapore continues to vaccinate its population, F&B businesses prepare to welcome more customers again, albeit with some adjustments. Early 2021 saw thousands of job opportunities in this sector to make up for the decrease in the number of people employed in the accommodation and food services sector. Apart from new hires, adapting new digital technologies is another key to recover from the drastic decline in the year-on-year (YoY) change in the F&B sector's performance.

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Singapore: GDP of food and beverages services 2020 | Statista

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In 2020, the gross domestic product (GDP) of the food and beverages services in Singapore amounted to approximately 4.4 billion Singapore dollars. The decrease from the previous year was due to the negative impact of the COVID-19 pandemic on the foodservice sector.

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https://blog.moneysmart.sg/dining/grabfood-singapore-guide/

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MoneySmart.Sg - Tips, tricks and uncommon wisdom to help you get more out of your money

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Grab isn't just about ride hailing anymore. They've now expanded into other services like GrabFood and GrabPay, and are fast becoming a company Singaporeans just can't avoid using.

GrabFood (and Grab in general) built up their initial consumer base by being very generous with promo codes. Now that their main competitor Uber is out of the picture, there are far fewer promo codes... Which is disappointing. It doesn't help that GrabFood uses dynamic pricing either (more on that below).

Whatever the case, GrabFood remains one of the biggest food delivery companies in Singapore, so here's a useful guide on their fees, subscription plans etc.

GrabFood Singapore Guide (2020)

GrabFood food delivery restaurants

GrabFood's restaurant selection focuses mainly on fast food, affordable and lower mid-range options.

So, you'll find many of the big fast food chains like McDonald's, KFC, Burger King, Pizza Hut, Domino's and Subway. There are also lots of snack-type vendors like KOI, LiHo, Rochor Beancurd, Old Chang Kee and Jollibean, as well as lots of local eateries and hawker-type food.

Other than the above, here is a random sampling of what can be found in various zones.

CBD - Too busy to leave your desk? Office workers' staples like Heavenly Wang, Hill Street Coffee Shop, Coffee Hive, IRVIN's Salted Egg and Tong Fong Fatt Hainanese Boneless Chicken Rice are available via GrabFood.

Bishan - To escape the crowds in this busy residential neighbourhood, many turn to Grab Food options like Ming Fa Fishball, Hua Zai Frog Porridge & BBQ, Imperial Bak Kut Teh and Din Tai Fung.

Punggol - With few hawker centres, Punggol is an ideal location for the use of services like GrabFood. The selection includes Tender Fresh Classic, Xin Wei Mala Hotpot, Popeyes, Toast Box and Tim Ho Wan.

GrabFood food delivery fees

Perhaps one of the biggest pros of GrabFood is that for some merchants, there is no minimum order. If you're lucky, you may be able to order $3 bubble tea and get away with it - but just know that your delivery fees may be the same price or cost more.

(GrabFood's USP used to be that was no minimum order. However, some merchants recently introduced a small order fee.)

During "normal" times, GrabFood charges around $3 to $5 per delivery. Their dynamic pricing system adjusts this rate based on things like the order volume and number of available riders, which means it'll probably cost you more to order during peak hours.

... Which, thanks to circuit breaker, is 24/7 now. I don't know how true this is, but I've seen screenshots depicting $7+ delivery fees circulating the internet.

GrabFood subscription plans - sneakily removed, only bubble tea subscription left

In the few short years since food delivery services have become widespread here, Singaporeans have shifted their eating habits, and there are now many who are reliant on GrabFood, Deliveroo or Food Panda on a near-daily basis.

For such frequent users, subscription plans can be a huge cost-saver, right?

Theoretically yes, but with GrabFood's current offerings, nah.

Currently, GrabFood only has 1 subscription plan and it's for bubble tea (i.e. not food in general). You pay $12 per month to receive 5X $3 off vouchers which can be used at LiHO Tea, Gong Cha, Woobbee, iTEA, Hi Tea and Hey Long Cha.

Seeing as you can't have boba as a full meal, this plan is not very useful.

Previously, GrabFood had a No Delivery Fees subscription plan, which offered 50X free delivery vouchers for $9.99 monthly. That worked out to less than $0.20 per delivery, assuming you actually manage to use all 50 vouchers. Not bad at all.

For the average user, this was more worth it than Deliveroo's plan which costs $14.90 for unlimited free deliveries.

I don't know if it's that GrabFood decided to cash in on the Covid-19 situation and removed this subscription plan, or that it ran out (the website says subscription plans are in limited quantity), but either way, it's a real bummer.

GrabFood promo codes & vouchers in Singapore (2020)

As mentioned, GrabFood promo codes are quite rare now. You can try your luck with these promo codes that we've sourced from the internet:

EAT40 - 40% off on orders of $40 or more.

8TASTY - New customers get $8 off their first two orders.

5OFF3 - Get $5 off 3 orders.

Alternatively, you can check GrabFood's blog for updates.

GrabFood payment - using GrabPay to earn GrabRewards

To use GrabPay for GrabFood, you must link your credit or debit card to your account, or transfer cash electronically from your bank account using the Grab app's PayNow function.

As an added perk, when you pay using GrabPay credits, you get to accumulate GrabRewards points which can then be redeemed for vouchers, discounts and free deliveries. You can accumulate GrabPoints on not just GrabFood orders but also any GrabPay transactions, such as for Grab rides. If you're a frequent user, the points can very quickly add up.

They also have a cash payment option, which enables you to pay the delivery rider in cash when he or she arrives at your location. But this is only available for orders below $50.

GrabPay does not accept Android Pay and Alipay at the moment.

Bonus: Best credit cards for GrabFood food delivery

Other than maxing out your GrabPoints, you can save even more money by choosing a card that rewards you for online dining. Most cards put food delivery in the dining category.

Here are some of the best cards to use:

Citi Cash Back Card - 8% cash back on dining when you spend at least $888 in a statement month

UOB YOLO Card - 8% cashback on weekend dining and 3% cashback on weekday dining when you spend at least $600 in a statement month.

OCBC 365 Card - 6% cashback on online food delivery when you spend at least $800 in a statement month.

For more recommendations, check out this article: 10 Best Credit Cards for Dining in Singapore - Miles, Cashback, Buffet Promotions & More
Are you a frequent GrabFood user or do you prefer one of the other delivery apps? Tell us in the comments!

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GrabFood Singapore Guide: Food Delivery Fees, Promo Codes & More

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Grab isn't just about ride hailing anymore. They've now expanded into other services like GrabFood and GrabPay, and are fast becoming a company Singaporeans just can't avoid using. GrabFood (and Grab in general) built up their initial consumer base by being very generous with promo codes.

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https://www.straitstimes.com/singapore/transport/sector-booms-in-a-time-of-coronavirus

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Food delivery sector booms in a time of coronavirus

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Demand for food delivery services has increased by about 20 to 30 per cent since a ban on dining-in kicked in on April 7. Besides customers, new food and beverage operators and workers have also been flocking to the sector. Read more at straitstimes.com.

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Macroeconomics Preliminary Analysis [Based on _ key sources of information]

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Macroeconomics Preliminary Analysis [Based on _ key sources of information]

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1. GDP
In 2020, the gross domestic product (GDP) of the food and beverages services in Singapore amounted to approximately 4.4 billion Singapore dollars.
- As businesses have to either adapt or succumb to the effects of social restrictions, some have embraced delivery services, as people ordered more with delivery apps than ever before.
Food delivery company like Grab has contributed $8B to South-east Asia economy (Including Singapore) in a year.

2. Labour Force
Increasing demand for food delivery jobs as a result of their low barriers to entry
Eg. GrabFood recorded an 80% increase in weekly applications to be delivery riders since March 2020
Eg. In 2020 there were a total of 11,300 car and light goods vehicle drivers, who included food delivery riders, according to the Ministry of Manpower’s (MOM) Labour Force in Singapore 2020 report. This was 3,500 more than the figure in 2019.
Rising underemployment as their earnings were affected by the ongoing pandemic despite the high demands for food delivery
- the influx of new riders who had lost their previous jobs resulted in a decrease in earnings and incentives for current riders
Eg. one of the food delivery riders stated that due to the increase in new riders, her earnings have decreased from S$1,000 to S$400 weekly for working the same hours
- the abundance of riders now has also allowed many delivery platforms to further decrease their fees as they have sufficient riders who are willing to do the job despite being underpaid
Eg. Food panda has decreased the pay for its riders from $7 to as low as $3 per order
Additional: Most food delivery riders do not expect themselves working long-term in this sector, but rather a "temporary lifeline" for them to earn quick cash during the pandemic. Eg. "Mr Rafael, who earns up to S$5,000 a month working everyday between 6am to 3pm, sees himself staying in this line for at least the next two years. After that, he hopes to open his own cafe." Quoted from the today article

3. Government Measures
Ministry of Manpower (MOM) has set up an advisory committee to study how to support self-employed persons who work for online platforms.

4. Inflation
- During circuit breaker 2020, a blogger mentioned that GrabFood used to charge delivery fees from $3 to $5, but has increased to $7+
- She also mentioned that GrabFood used to have a No Delivery Fees subscription plan. However, during Covid-19, GrabFood said that the subscription plans are in limited quantity. This might be due to the loss in sales or having too many users.

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https://www.straitstimes.com/business/companies-markets/grab-contributed-8b-to-south-east-asia-economy-in-a-year

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SINGAPORE - Grab said it contributed US$5.8 billion (S$8 billion) to South-east Asia's economy in the 12 months leading up to March 2019, through driver, delivery, merchant and agent incomes and sales generated through its platform and Grab unit Kudo.

In its inaugural social impact report released on Tuesday (Sept 24), Grab said that there were about nine million micro-entrepreneurs on its platform as at Aug 31 this year. That means one in 70 South-east Asians have earned an income through the Grab platform.

Just a year and a half ago, the number of micro-entrepreneurs on the platform was 2.6 million, according to data as at March 2018.

Grab, which offers financial products through its unit Grab Financial, also estimates that one in four drivers who have received financing products from the group would have been turned down by traditional banks. Reasons for rejection include failing to meet an income threshold and the lack of supporting documents.

Independent consultancy firm Dalberg advised the methodology for analyses on key social impact metrics in the report, while Grab's financial statement auditor KPMG independently verified the social-economic calculation based on agreed upon procedures.

At its social impact conference in Jakarta, Grab announced three goals to be achieved by 2025 under its "Grab for Good" programme. The company wants to bring digital literacy and greater inclusion to three million South-east Asians through partnerships with governments, private companies and non-profit organisations. The three million comprise micro-entrepreneurs with Grab.

The firm also aims to help over five million more traditional businesses and small merchants to digitise their workflow and processes.

To address the shortage of tech talent, Grab is targeting to train 20,000 students through tech initiatives in partnership with educational institutions, non-profit organisations and leading tech firms.

To achieve these goals, the company has entered into a regional partnership with Microsoft to upskill workers and increase digital literacy. Besides training university students, the two firms will create a pathway for interested drivers to pursue tech careers. Drivers who have been through a tailored programme will be matched for interviews with Grab and Microsoft partner companies for tech roles.

Grab is also expanding its "Break the Silence" initiative for deaf drivers to include Indonesia and Singapore, in addition to Malaysia and Thailand. In the coming weeks, it will announce partnerships with various organisations for the deaf and hearing-impaired.

"Over the past seven years, Grab has grown from a small scrappy startup offering taxis-on-demand into a company operating in eight countries and 339 cities, and employing thousands in our offices," said Grab co-founder and CEO Anthony Tan to a roomful of partners, international media and top Indonesian government officials.

"This is something we are proud of, but it is clearly not enough. As South-east Asia grows from strength to strength, and Grab from milestone to milestone, we have an ever-increasing responsibility to really show that we truly serve the communities that we live in."

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Grab contributed $8b to South-east Asia economy in a year

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SINGAPORE - Grab said it contributed US$5.8 billion (S$8 billion) to South-east Asia's economy in the 12 months leading up to March 2019, through driver, delivery, merchant and agent incomes and sales generated through its platform and Grab unit Kudo.. Read more at straitstimes.com.

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Each week, TODAY's long-running Big Read series delves into the trends and issues that matter. This week, we speak to some food delivery riders who see the job as their best shot in life, despite its downsides. This is a shortened version of the full feature,​ which can be found here.

With its low barriers to entry, the food delivery industry has become the gig of choice for those looking for flexible working hours and quick cash

As the number of food delivery riders continues to grow, their well-being was among the issues raised during the National Day Rally in August

However, the job comes with many downsides including the lack of basic benefits and having to brave the elements while on the road

Despite the downsides, some food delivery riders have decided to remain in the industry for the long haul for various reasons

These riders, who have been in the line for several years, have also witnessed how the industry has changed due to Covid-19

SINGAPORE - For over a decade, Ms Yati was a homemaker who relied on her husband, who was a taxi driver, as the sole breadwinner of their family.

But in November 2018, his health started to decline due to a heart condition and he could work only for about two to three hours each day, before he would begin to feel breathless and return home. At that time, Ms Yati felt that she needed to step in to help pay for their living expenses, including the monthly rent for their one-room flat.

The 59-year-old, who wanted to be known only by a shortened version of her name, decided that she would take on food delivery on her personal mobility device (PMD).

"I've got no other choice. I cannot do a cleaning job because I cannot see dirty things, I will vomit," said Ms Yati, who dropped out of school in Secondary Two. "And I have no experience in (the) office line. My education is not that high. So this is the only job I think suits me."

For nearly the past 3 years and counting, she has been delivering food six days a week.

For Mr Zhang, another food delivery rider who declined to give his full name, the job allows him to "start making money immediately at the start of the day" and it is hard for him to find a job that pays the same. Each month, he aims to earn about S$3,000.

The 38-year-old, who has been working as a full-time food delivery rider since December 2018, had previously held a variety of jobs, including in telemarketing and sales as well as working as a private hire car driver.

He added: "I can also save money in this job. It's the way you see how money is earned too. Making S$5 to S$7 at a time compared to S$3,000 at a time (at the end of the month) makes you think twice (about spending)."

With its low barriers to entry, the food delivery industry has become the gig of choice for many looking for flexible working hours and quick cash. In the past year, the industry has also offered a temporary lifeline to people who suddenly find themselves without a job due to the Covid-19 pandemic.

But food delivery riders do not enjoy the same basic benefits or job prospects as most employees. The job also comes with its fair share of negative encounters and challenges - namely dealing with unreasonable customers and vendors, grappling with bad weather, travelling on crowded and dangerous roads, and getting injured as a result.

Apart from the lack of basic benefits, some food delivery riders have also seen their earnings affected during the ongoing pandemic despite the boom in demand.

During the circuit breaker last year, while food delivery platforms saw an increase in deliveries, some riders reported they started earning less from the platforms, with weekly incentives also falling. They attributed it partly to the influx of new riders who had lost their previous jobs.

The well-being of food delivery riders was among the issues raised during Prime Minister Lee Hsien Loong's National Day Rally (NDR) speech on Aug 29.

PM Lee pointed out that these gig workers have no employment contracts and thus, they lack basic job protection that most employees have, such as workplace injury compensation, union representation and employers' contribution to the workers' Central Provident Fund (CPF).

He also noted that more people have been taking up this type of work, especially amid the pandemic.

Last year, there were a total of 11,300 car and light goods vehicle drivers, who included food delivery riders, according to the Ministry of Manpower's (MOM) Labour Force in Singapore 2020 report. This was 3,500 more from the figure in 2019, when such data was first reported.

MOM has set up an advisory committee to study how to support self-employed persons who work for online platforms.

With changes afoot in the industry, TODAY looks at why some food delivery riders have decided to remain in it for the long haul, even relying on the job as their only source of income, despite the downsides.
THE DOWNSIDES
For the riders interviewed by TODAY, keeping safe while on the road and making deliveries is the biggest challenge they face daily.

"There's always a safety concern. You never know if today's the day you don't get home," said Mr Zhang, who does his deliveries on a motorcycle.

Another delivery rider who wanted to be known only as Mr Lee, 35, added: "You can be predictable on the road but sometimes other motorists are not." He has been delivering food full time on his bicycle since January 2019.

Ms Yati, who rides an electric bicycle to make deliveries after the ban on PMDs in 2019, has been hit by a taxi while on the job but escaped with light injuries.

Mr Rafael Sriram, a 32-year-old food delivery rider, said: "As e-bike users, we always face drivers who have no patience and they don't give way to us. We get horned (at) sometimes and get stared (at) if we try to cut lanes."

He was a part-time food delivery rider from 2015 to November 2019, working on all weekends, or about eight times a month, before he left his job in the food and beverage (F&B) industry and decided to pursue the gig full-time.

"Weather is also one of the toughest (challenges). Especially when it rains, it is more dangerous for us (on the road). Humid weather during the mid-year, like in March, April and May where it's super humid, sometimes we get heat rash and dehydration," Mr Rafael said.

Long waiting times at F&B merchants are also a bane for many.

It is the "most frustrating thing", said Mr Zhang. "Plus I don't get paid for waiting in restaurants. That's just wrong."

Then, there is having to deal with impatient and unreasonable customers and sometimes merchants too.

"Basically riders are more or less treated like punching bags. Yes we can retaliate but once we retaliate and people complain about our bad behaviors (to the delivery platform), the company takes serious actions on us," said Mr Rafael. "Our account can get suspended hence we won't be able to work. Length of suspension depends on a case-by-case basis. So basically delivery riders are more or less a patty in a burger - compressed up and down."

HOW COVID-19 HAS CHANGED THE INDUSTRY
Those who have been delivery riders for a few years now noted that the industry - like many other aspects of life - has changed due to Covid-19.

"There are too many (new riders) now. Last time, I could bring home S$1,000 a week. Now it's maybe only around S$400 for working the same hours," Ms Yati said.

She works six days a week from 8am to noon, when she will take a break before continuing from 5.30pm to 9.30pm.

"Foodpanda is also paying us less. Last time I would get S$7 per order, now it's maybe S$3 or S$4," she said.

Mr Lee, the 35-year-old rider who primarily works on the Foodpanda platform, noticed that the fee structure has changed from fixed fees to being based on distance instead.

"So now when you go nearer, fees are even less than what was the fixed amount before. And it's only increased for those who go further. Also... they don't take into account that sometimes we need to go one big round to get somewhere.

"With more riders now, I also feel like the platform has the bargaining chip to push down fees even more. It's like, if you don't want to do it, we have other riders who are willing," he said.

On its website, Foodpanda said that its fee structure was changed from June 23 last year. It added that the changes were in response to feedback from riders to be "compensated fairly for longer travel, to have the ability to choose which order to accept and to have complete transparency on how much you can make per order".

On distance-based fees, it said: "We understand that some orders are farther than others, and we want to fairly incentivise our riders for their exceptional effort."

Mr Lee, who lives in the West and used to make deliveries around the region, said he has had to go elsewhere because his area has become "overpopulated" with other riders, making it hard to get jobs.

He now leaves his home every morning five days a week and takes the train to Orchard where his bicycle is parked to deliver orders in the central areas.

"I'm not earning less per se, I'm just working harder," said Mr Lee, who declined to say how much he earns typically from delivering food.

The former merchandising executive said that what keeps him going is his love for cycling and the fact that he can earn a decent amount of money as long as he puts in the hard work.

For Ms Yati, her job as a food delivery rider gives her a sense of independence.

"My children are married with their own children. They have their own responsibility and they need to support their own family so I don't want to bother my children," said the mother of four. "As long as I'm still strong, I can cycle, I can move, I will proceed."

Mr Rafael, who earns up to S$5,000 a month working everyday between 6am to 3pm, sees himself staying in this line for at least the next two years. After that, he hopes to open his own cafe.

"Food delivery is good money. Secondly, it's a foolproof job where you don't have to think too much. The only hurdles are that you have to wait a lot and when it rains, there are (safety) risks. Food delivery platforms will never die. Everyone needs to eat," he said.

delivery riders food delivery commission cpf GrabFood Foodpanda Deliveroo

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The Big Read in short: Food delivery is hard work without prospects or benefits. Still, some do it for years

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Each week, TODAY's long-running Big Read series delves into the trends and issues that matter. This week, we speak to some food delivery riders who see the job as their best shot in life, despite its downsides. This is a shortened version of the full feature.

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Macroeconomics Prelim Analysis

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Happy to know that the Team works well with each other! Also heartened to read the collective suggestion of time management and specialization of work for the next stage analysis. It goes to show your commitment in wanting the Team to perform even better together! *clap clap

I also found relevant thoughts about what you have learnt that could go under prelim analysis too! For example, delivery fees hike but riders don't earn much higher. Q. What could be the reason? I found the brief reason in one of your key sources. I also read about product differentiation methods! Yes, Oligopolies still do try to differentiate their product or service.

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Feedback on Microeconomics Prelim Analysis

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Feedback on Microeconomics Prelim Analysis

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Hello Team,

Thanks for sharing your prelim analysis with me.

You’ll find below, feedback from me for your first stage work. Please note that the grow areas are specific to what I read on your padlet wall. It doesn’t mean these are all you need to do, to deepen your analysis for stage 3 presentation. I’m sure you’ll find more concepts or new info to deepen your analysis along the way. So feel free to expand your analysis. It also doesn’t mean that you have to address all that I’ve mentioned below.

As a team, discuss and come to a consensus.

Just to be clear, there is no need to amend your prelim analysis on padlet. My feedback are meant for you to consider when you work on deepening your analysis in stage 3 (Presentation and the slides)

Glow areas:
1. Key sources are largely authoritative sources except for the “SmallCapAsia” but small issue if Team is intending to use the survey about users of the 3 key platform or their market shares, I believe you could find similar elsewhere to replace it. I had a quick check of the additional reference, the one from slideshare is also less recognised. No worries if these are just background reading that Team won’t cite for presentation in Stage 3. I’m sure you could find more articles online to deepen your analysis subsequently.

2. Key sources contained relevant information about the chosen industry to some extent but less in-depth. The one from CNA isn’t a news article but a commentary representing the writer’s opinion. Sometimes such articles might not have much focus on objective information for use.

Grow areas:
There were supply related information from the articles but seemed like these “gems” have not been dug out yet.

1. What could be the appropriate demand determinant that you have described? This would help you apply economic concepts to real world observation.

2. Agree to find out more to support the change in taste and preference since the support now comes mainly from the commentary of one person.

3. Correct identification of the market structure though brief support included. Please have a look at Oligopoly portion in the new lecture topic and include the key characteristic of such market structure in your analysis.

4. What could be the price elasticity of demand determinant that could explain what you have described?

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thank you everyone for being so friendly and acceptive of everyone's suggestions. it was easy for me to speak up during the meeting as everyone seemed very approachable and understanding.

one area for improvement as a team would be perhaps splitting the workload at the start of the meeting, so that we can get things done at a faster pace and with more efficiency.

i have learnt more about the market strucutre of delivery services platforms as i was unsure of the differences in their market structures and whether the differences mattered. from this analysis, i have learnt that market structures are important as it affects its marketing power in the industry and whether its able to hit a certain amount of supplies and demands.

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Thank you teammates for being open-minded especially when new ideas were being brought up. I really appreciate how everyone in the team tries to contribute as much as possible during the discussions.

Personally I think that we should set time limits for the different tasks that we need to complete, so that we will focus on our tasks more, aim to finish them by the time limits, and try to spare a bit more time for checking or to make changes if necessary.

I learnt from this analysis that many determinants contribute to the demand of food delivery service. For instance, price of the service (delivery fee), consumer's income level, customer service quality, food quality standards and most importantly the change in consumer's lifestyles and preferences. This is because one of the biggest reasons why there was a huge spike in food delivery nowadays is due to the Covid-19 pandemic which brought changes to most people's lifestyles and preferences.

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thank you everyone in the team for being receptive to each other's ideas as well as being so patient during our discussions.

one improvement we can make is we could try dividing the work among everyone before coming together and build more on each other's answers, so that we can focus on our individual tasks and maximise our productivity.

i've always wondered how some food delivery companies are more favored over others if they offer similar food products. This analysis has made me understand some of the differentiation methods that have increased competition in the food delivery industry. These strategies include providing personalisation options for individuals that may have food allergies and various reward systems to attract more consumers. Demand for different companies will then vary according to mark-ups in their different pricing components and quality of service.

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Everyone in the team was friendly and approachable. Everyone was open to discussions and feedbacks. It was nice working with everyone. Thank you all!

An area I think we could improve on is that we can try our best to complete tasks within a time given so that we can cut short our discussion time with a higher efficiency.

I always don't understand why some apps sell some food and beverages at a higher price than the other despite it being the exact same product. But, after this analysis, I realize that there are many contributing factors, like the market structure of a company, which contributes to how they price their items.

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It is a pleasure to be in this team as everyone is very cooperative for our online meeting & every member contributes actively to the discussion. We are also very agreeable to changes & very receiving of feedbacks from one another.
One slight improvement we can make is to start our task discussions a little earlier as we started a bit late this time round so we all had to rush.

Through this analysis, I got to learn more about the market structure of delivery service platforms in Singapore. I always had the misconception that "The higher the delivery fee, the more the rider earns". However, this analysis made me realize that riders do not actually earn a lot more from a price surge.

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How Grab Can Teach Us About Investing

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How Grab Can Teach Us About Investing - SmallCapAsia

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I just went for hyphens group corporate visit and it was an eye opener! Here are 10 things i learnt from the tour which investors should know about.

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https://www.channelnewsasia.com/business/grab-increase-platform-fees-grabfood-grabmart-delivery-orders-294216

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SINGAPORE: Technology company Grab will increase its platform fee for the delivery of food and other on-demand items from late next month, the company said in an email to customers on Wednesday (Mar 31).

Grab said it will raise the platform fee for GrabFood and GrabMart to S$0.30 per order, an increase of S$0.10 from the current rate. The new rate takes effect on Apr 22.

"Over the past year, demand for deliveries has increased. And along with it, the need to provide a safer and more efficient platform for you and our delivery-partners," said Grab in an email to users.

"In order to continue doing so sustainably, we will be adjusting our platform fee ... This will go towards maintaining current features and developing new ones."

The move comes about a year after Grab introduced a S$0.20 platform fee for its food delivery service on Mar 27, 2020.

In December, it also introduced a S$0.30 platform fee for all rides, except for GrabHitch and GrabResponse.

The company said in the email to users on Wednesday that the platform fees will go towards three areas: Safety, security and efficiency.

It said that it will soon introduce new features to reduce the waiting time for delivery-partners at stores, enabling them to process and deliver orders more quickly.

It also plans to enhance fraud prevention measures, a move that will provide "better protection from harassment and pranks".

"We look forward to delivering a better platform and experience for you and our delivery-partners," said Grab.

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Grab to increase platform fees for food, mart delivery orders

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SINGAPORE: Technology company Grab will increase its platform fee for the delivery of food and other on-demand items from late next month, the company said in an email to customers on Wednesday (Mar 31).Grab said it will raise the platform fee for GrabFood and GrabMart to S$0.30 per ord

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[1] GrabFood is the most used app for food delivery orders in Singapore as of June 2020. (Müller, 2021) https://www.statista.com/statistics/1149590/singapore-favorite-food-delivery-apps/
[2] Demand Analysis of Online Food Delivery Services. (Sharma, 2019) https://www.slideshare.net/NehaSharma1136/demand-analysis-of-online-food-delivery

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Food delivery apps are meant to make our lives easier, not worse

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COVID-19 CHANGED THINGS

Come to think of it, I went from being someone who ordered takeout several times a year to that person whose workdays are now marked by the arrival of the food delivery guy at midday.

Like many of us, due to the risks of the pandemic, I limited going out as much as before and so ended up ordering more meals in.

The convenience of it soon grew on me and before I knew it, I was a regular on my food delivery app with my favourite list of food outlets memorised.
FOOD DELIVERY FEVER
But it wasn't just me. The infectiousness of this convenient consumption spread to the rest of the household too.

On weekends, my children used to ask, "Where are we going for lunch/dinner?". Now their question is, "What are we ordering?" Instead of some microwaved popcorn and homemade guacamole to go along with the nacho dips, late night snacking for my husband and me now involved popiah and barbecued ribs from our favourite eateries.

While I welcome the latest innovations in the food delivery space, it is hard not to notice the opportunity costs of ordering in all the time.

The convenience of ordering food in, and therefore not having to get ready to head out, has given rise to a wider inertia. Days and weeks tend to go by in a blur without the situational reference of having meals with family or colleagues at certain establishments.

Years from now, I cannot look at my camera roll for a visual reminder about the roti prata breakfast I had with my sister at a famous stall in my neighbourhood, much less recall anything we chatted about. Of course, that is completely my own doing.
MEMORIES OF DISPOSABLE CONTAINERS
Another example: Before the pandemic gave rise to virtual worship services, my husband and I would take the kids out for a meal every Sunday after attending mass in church.

Even without referring to photos, I remember specific occasions based on the restaurants we ate at as the multi-sensory memory of those places remain etched in my mind: Observations about unique interior décor, the quirky waiter, people at a neighbouring table who talked too loudly, and so on.

The meals were also telling of different periods in our family life, reflecting how our tastes and preferences evolved over time. The lesser we dine out, the more difficult it is to recognise the differences - as we may find out in years to come as we pour through family albums and find that much of last year and 2021 were spent at home eating out of disposable containers.

No matter how convenient or delicious a delivered meal they are usually better enjoyed with Netflix. For many families like mine, the focal point of a living room gravitates towards what's on television and that includes mealtimes as well.
MISSING FAMILY CONVERSATIONS
Moreover, with everyone doing their own thing at home, it is hard to get them to sit down and have a meal all at the same time.

Family bonding of a deeper kind thus would have to wait for that special occasion when we ate at actual restaurants, where there isn't a television to distract and mobile devices are kept away.

When we are all seated around a table at a restaurant with little or no distractions, conversations will happen (even if they are forced).

Moreover, the comfort and convenience of food delivery services has not been forgiving on the waistline.

Certainly, the complacency of working in sweatpants and the ease of satisfying food cravings at the touch of a button instead of having to walk to some place to eat can explain the staggering 5kg to 6kg my husband and I have gained since the circuit breaker.

This sobering wake-up call was what triggered our cutting down on delivered meals and starting a daily ritual of two-hour-long morning walks, which - apart from being energising - turned out to be educational as well.

As we passed various food centres and coffeeshops, we were able to put a face to the many individual vendors from the food delivery apps. These apps have helped such stalls, many of which are non-descript, reach out to customers like me. Otherwise, we might not have come to know of their delicious offerings.
STRIKING THE RIGHT BALANCE
On the one hand technology has helped such small business owners explore new income streams. On the other hand, learning who they were and their stories through our walks meant that they were more than just digital integers we clicked on so effortlessly.

Perhaps that is the kind of balance we need in our lives whenever new innovations or technology emerge to make our lives easier - to not let it dictate our lifestyles, but to incorporate it to improve the lives of others and our own. That approach is key when it comes to making food ordering decisions as well.

If there's anything that my once over-reliance on food delivery has taught me, it's not to prize convenience and comfort above all else.

Instead, making space for occasions to take the family to restaurants, to put actual faces to my favourite in-app hawkers, and to generally eat in the company of people instead of devices can be immensely rewarding.

Food delivery apps are here to stay so we better learn how to live with them and not through them.
Rachel Tey is an author and editorial consultant based in Singapore.

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Commentary: Food delivery apps are meant to make our lives easier, not worse

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COVID-19 CHANGED THINGS Come to think of it, I went from being someone who ordered takeout several times a year to that person whose workdays are now marked by the arrival of the food delivery guy at midday.

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Microeconomics Preliminary Analysis          [Based on 4 key sources of information]             

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Microeconomics Preliminary Analysis          [Based on 4 key sources of information]             

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1. Demand for food delivery services increased during Covid-19 period [Inez]
Support from key sources:
- There was a spike in food delivery orders as many stayed home due to Covid-19 restrictions.
- Stringent rules to prevent the spread of Covid-19 has led to almost a 50% jump in food delivery orders.
- In April 2020, the number of orders went up from 50% to 70% as well, with most people staying at home.

- Many food delivery companies have been incentivized to up their game to keep up with the growing competition as a result of the sudden surge in demand for food delivery services since April 2020.

2. Change in lifestyles and preferences resulting in an increase in food delivery services [Jasper & Anthea]
Support from key sources:
- Due to Covid-19, many were unable to dine out in big groups hence, people started to dine out lesser and rely more on food delivery apps.
- Due to the risks of the pandemic, many limited going out as much as before and thus ended up ordering more meals in.
- Someone said that he went from being someone who ordered takeout several times a year to the person whose workdays are now marked by the arrival of the food delivery guy at midday. It was so convenient that it soon grew on him and before he knew it, he was a regular on the food delivery app with his favorite list of food outlets memorized.
- A survey conducted by the National University of Singapore found that there was a 73% increase in delivered meals during the circuit breaker alone.

To find out more for report writing:
- Other reasons aside from Covid-19 resulting in an increase in food delivery services

3. Market Structure of the Food Delivery Industry: Oligopolistic Competition
Support from key sources:
- Less competition: 3 main delivery providers in Singapore
- Product Uniformity is considered as similar since most food delivery companies offer similar food products

To find out more for report writing:
- How many food delivery platforms are there in Singapore altogether
- Which platform is the leading platform and what makes it the leading platform

4. Price Elasticity of Demand for food delivery services [Amber & Agnes]
Support from key sources:
- Major food delivery firms have seen an increase in orders, with one reporting an almost 50% jump.
- E.g: A frequent GrabFood user said that the delivery charge of his usual order increased from $3.50 to $5.70.
- Demand for food delivery services is price-inelastic. This is because, despite the increase in charges for food delivery, there was still a spike in food delivery orders. There was a greater percentage increase in quantity demanded as compared to the percentage increase in price, this suggests that consumers are not really sensitive to the increase in price. Thus, it is price-inelastic.

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Demand hots up for food deliveries in S'pore amid tightened Covid-19 curbs

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Demand hots up for online groceries, food deliveries in S'pore amid tightened Covid-19 curbs

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Most supermarkets, online grocers and food delivery services have seen a spike in orders over the past week. Read more at straitstimes.com.

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With no dining in, food delivery firms report jump in demand

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Covid-19: With no dining in, food delivery firms report jump in demand but some riders see little change in earnings

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SINGAPORE - Since more stringent rules to curb the spread of Covid-19 took effect on Sunday (May 16), major food and grocery delivery firms have seen an increase in orders, with one reporting an almost 50 per cent jump.

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Microeconomics Preliminary Analysis

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Microeconomics Preliminary Analysis