[𝐂𝐊𝐌’𝐬 𝐍𝐞𝐰𝐬] IS BAEMIN VIETNAM LEAVING THE GAME, AND IS COMMUNICATION A VALUABLE “WEAPON” OR JUST A SHIELD FOR THE BATTLE FOR SURVIVAL?

Baemin – Four years ago, a renowned name in the Korean fast food delivery market entered the Vietnamese market, bringing a new wave and quickly “blanketing” Vietnam with its mission to “Help people enjoy delicious food anytime, anywhere.” It soon became a “sensation” and a formidable competitor to major players like Grab and Shopee, with a series of viral and unique marketing campaigns, such as extensive OOH (Out-Of-Home) advertising in prime locations and collaborations with top influencers, alongside creative content campaigns featuring the “Chubby Cat” mascot.

Once again, Baemin has made waves and stirred up public opinion by hinting at its withdrawal from the Vietnamese market.

However, the burning question is why Baemin—one of the top three giants in the food delivery market with highly impactful communication campaigns like “Quán ngon Quận mình,” “Gia đình mình no bất thình lình,” “Thiên thời địa lợi nhân gì cũng ngon,” and “Ngày tháng 10 chưa cười đã đói”—could not sustain its position in Vietnam.

Could it be that Baemin’s communication campaigns—the source of power it has used over the past four years to win over Vietnamese customers—are not enough to retain customer loyalty? Or is this merely a costly lesson on survival in a highly competitive and volatile economic landscape in Vietnam for a “pure” food delivery ecosystem?

Baemin chose to build a pure ecosystem centered only on food delivery, while competitors like Grab have created a multifunctional ecosystem offering services ranging from delivery of goods and food to ride-hailing, and Shopee has integrated both e-commerce and food delivery through ShopeeFood.

For users, having a multi-functional app that combines many features saves time, offers big discounts, and provides excellent customer service. This makes it a “+∞ respect” app in the eyes of users, becoming their “top of mind” choice, not to mention other factors like the app’s convenience, attractive visuals, and its overall user experience.

According to an article, Niklas Östberg, co-founder and CEO of Delivery Hero, told Reuters that the company’s outlook in Asia is positive, except for Vietnam—a market they believe is “never profitable.”

Ms. Cao Loan, who took over as CEO after former CEO Mr. Jinwoo Song stepped down, stated: “Unfortunately, this decision was hastened by the challenging food delivery environment in Vietnam, with fierce competition and high consumer expectations.”

Perhaps people liked Baemin’s witty and humorous communication. They might have liked the choice of the “Chubby Cat” mascot that has become a familiar presence in their minds over the last four years…

“𝐁𝐮𝐭 𝐁𝐀𝐄𝐌𝐈𝐍 𝐢𝐬 𝐧𝐨𝐭 𝐭𝐡𝐞 𝐧𝐮𝐦𝐛𝐞𝐫 𝟏 𝐜𝐡𝐨𝐢𝐜𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞𝐦.”

This indicates that Vietnamese users are indeed demanding, and Baemin may have focused too much on communication while neglecting to improve its products and services—a critical aspect to thriving in the Vietnamese market.

Nonetheless, we cannot deny that communication and branding are the beginning—a journey of planting seeds and creating buzz, building an image and trust in the minds of customers. However, alongside that is the need for innovation, creativity, flexibility, and continuous adaptation to meet the ever-increasing demands of consumers.

For Baemin, perhaps they have only reached the stage of a strong “Chubby Cat” brand in communication, but retaining customers requires a sustainable business and operational strategy.

This article analyzes from a Communication & Event perspective, so let’s follow Baemin’s next steps to see if there will be any new campaigns or actions on their journey to win over Vietnamese consumers in the general delivery market and the food delivery market in particular.

The news about Baemin’s withdrawal from the market is not yet official, but perhaps this is a “pause” phase for Baemin to reflect on its four-year journey and make the most strategic decisions to take a “step forward” in the future.

Chau Khong Media
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