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Kuwait city, Kuwait - It is rather common for restaurant owners to pay commissions up to 30% of their revenue to third party food delivery applications. And while global giants keep acquiring local market share, small businesses are at the mercy of paying up or losing out. Sources close to the ministry of commerce predict the closure of up to 20% of small and medium size restaurants in 2020 which is largely due to the inability to compete in a highly monopolized environment.
A game changer
Zyda, a startup launched in 2018 by Kuwaiti entrepreneur Hamad Aljudai is determined to change the story. The service provides restaurants and retailers with a quick link to fast online ordering links to restaurants and retailers so they can sell directly to their customers in return for a fixed monthly fee.
“We promise and deliver speed in bringing our clients online — often within 48 hours, many realize their investment within hours of placing their Zyda powered store on their Instagram bio. Social commerce is proving to be more suitable for recurring commission-free orders.” said Mr. Aljudai.
The company successfully generated over $6m for 300+ restaurants and small businesses in 2019 with 20% month-on-month growth reaching $1m gross merchandise value in December alone.
Social commerce
The growth trajectory demonstrates the rapid adoption of social commerce and online payments as a method of choice in day to day transactions.
According to Mr. Aljudai, “K-Net payments command 45% of the transactions in Kuwait while cash is 50% and about 5% are conducted via the traditional credit cards. The latter usually ramp up by the end of each salary month as per our latest analysis”.
Going the extra mile
Not only does Zyda provide a quick link for online ordering, but they have gone the extra mile to ensure that every part of the customer journey is fulfilled via strategic partnerships with payments, marketing, delivery and other value added service providers.
The company’s CMO Bashar Alostad states: “We work very closely with our clients, and this provides us with invaluable insights into what services and integrations are required in order to provide a delightful end-customer experience. Having validated this in Kuwait, our home market - we are now set to introduce the service world wide as we partner with key logistics partners in every market we launch”
About Zyda
Since 2018, Zyda has been pioneering social commerce by helping hundreds of restaurants and retailers sell directly to their customers for a fixed commission-free subscription.
Talk to us
Bashar Alostad
bashar@zyda.com
+965-97554299
www.zyda.com
Dirwaza 51 Tower, Mubarak Al-Kabeer st, Sharq, Kuwait city
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