Sharing Economy International Re-launching BuddiGo Platform to Provide Local Food and Grocery Delivery Services
Sharing Economy International Inc. (OTCQB: SEII) has paused its BuddiGo delivery platform due to COVID-19 concerns. With vaccinations increasing and economies reopening, SEII plans to relaunch BuddiGo in Hong Kong by late Q2 or early Q3 2021. The BuddiGo platform enables P2P food and grocery delivery services, adapting to changing consumer behaviors during the pandemic. Revenue in the Online Food Delivery segment is expected to reach US$798 million in 2021, showing strong market potential. The platform aims to enhance community health by tracking users' vaccination and health status.
- Relaunch of BuddiGo expected by late Q2 or early Q3 2021.
- Increased demand in food delivery services due to changing consumer behaviors.
- Projected revenue growth in Online Food Delivery segment to US$798 million in 2021.
- Operational pause of BuddiGo due to health concerns related to COVID-19.
- Potential competition in the booming food and grocery delivery market.
HONG KONG, April 28, 2021 /PRNewswire/ -- Since the outbreak of COVID-19 last year, Sharing Economy International Inc. (OTCQB: SEII) has paused the operation of the P2P food and grocery delivery platform BuddiGo, in concern of the health and the possibility of individuals spreading the virus during the delivery services.
As vaccination has been progressing in many countries. All governments are working very hard in re-opening the borders, and resuming to normal economic activities. "During the past year, a lot of consumer behaviors have changed," said Parkson Yip, SEII Advisor on Corporate Development. "In addition to sharing economy, 'stay-at-home economy' has been growing rapidly. People are staying at home more during the past year to maintain social distancing. People are now depending more on delivery services. Food delivery and ecommerce markets have been booming."
SEII's fully owned platform BuddiGo aims at providing P2P personal pickup and delivery services. Anyone in the community can provide pickup and delivery services to the orders available on BuddiGo. BuddiGo not only can allow food delivery to any, but not a limited, choice of restaurants in the market, users can also ask others to help do grocery shopping and delivery. Users just post what you need onto the platform, with the extra service fees that you may offer, the "Buddies" will pick up the service and provide the services.
"SEII worries about the hygiene issue when a lot of people are running around and passing items with each others without a proper control. There is always community health concerns. While more and more people are getting vaccinated now, and COVID-19 is under a good control in many places, such as Hong Kong, the group believes it is the appropriate time to re-launch the BuddiGo application. It can also provide job opportunities to many people to earn some extra income by providing pickup and delivery services to others. The company is doing some final enhancements to the application now, so it will be tracking the vaccination and health condition of the Buddies, as well as tracking their service routes. Community health is our top priority," says Yip.
According to Statista, revenue in the Online Food Delivery segment is projected to reach US
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated companies, focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com
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SOURCE Sharing Economy International Inc.
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