HONG
KONG, July 3, 2024 /PRNewswire/ -- Hangzhou
SF Intra-city Industrial Co., Ltd. ("SF Intra-city", or
the "Group"; Stock Code: 9699.HK), China's largest third-party on-demand delivery
service provider, officially launched the "SoFast" brand in
Hong Kong on 1 July, 2024. It marks the first time the Group
extended its on-demand delivery service beyond mainland
China, signifying its initial step
towards expanding into overseas markets.
SF Intra-city's "SoFast" is dedicated to offering users
professional, efficient, and diversified intra-city on-demand
delivery solutions. Initially, the service will be available
through the SF Hong Kong mobile App (SFHK App), providing the
fastest delivery in one hour which enhances the efficiency of the
current local express logistics. The service will cover various
categories, including documents, flowers, food and beverages,
jewelry, and digital electronics.
Hong Kong users can select the
"SoFast" service when placing orders through the SF-EXPRESS App,
update to the latest version, to access SF Intra-city's
full-category on-demand delivery service in town. New users and
existing users could enjoy high discount coupons for their orders.
Orders can be placed 24/7, ensuring that users receive swift and
professional responses to their on-demand needs, aligning with the
slogan "So Fast So Good."
The "SoFast" on-demand delivery service of SF Intra-city aims to
leverage its advantages of speed, accuracy, real-time tracking, and
professional reliability to address customers' urgent needs. In the
initial stage, the service will be available for pickups in the
densely populated Yau Ma Tei,
Tsim Sha Tsui and Mong Kok ("Yau Tsim Mong District") and
delivered across Hong Kong. The
service will gradually expand to cover more regions, with the goal
of providing citywide coverage by the end of the year.
Data from the Hong Kong Census and Statistics Department shows
that local courier businesses in Hong Kong experienced rapid growth in recent
years, with an average business revenue growth of 106.7% from 2012
to 2020, far exceeding the international courier activities growth
rate of 25.7%. A survey targeting Hong
Kong small and medium-sized enterprises ("SMEs") revealed
that over 66% of them believe customers prefer same-day or instant
delivery services, and as high as 68% stated that customers expect
to receive goods within specified time frames. These findings
highlight the high demand among Hong
Kong consumers for fast and timely delivery, indicating
significant potential for the on-demand delivery market in
Hong Kong.
Furthermore, the overall demand for both food and non-food
delivery in Hong Kong has a
tremendous growth potential, with a compound annual growth rate of
over 50% in the past five years. According to the market research
firm Statista, the penetration rate of food delivery in
Hong Kong is projected to be only
3% by 2025, while mainland China's
penetration rate is 30%, indicating a significant room for
expansion. Research conducted by the Hong Kong Trade Development
Council reveals that e-commerce sales accounted for only around 10%
of the total retail sales in Hong
Kong in 2022, highlighting a substantial gap and growth
potential compared to the global e-commerce penetration rate of
30%-40% in countries such as the mainland China, the United
States, and South
Korea.
The official launch of SF Intra-city's "SoFast" will impact the
on-demand logistics market in Hong
Kong by providing high-quality and efficient services,
including comprehensive delivery solutions for both food and
non-food products. In addition to better delivery speed and
quality, SoFast is expected to further promote diversified new
retail models, such as brand-owned channels, and catalyze more
mainland brands to expand into the Hong
Kong market. Additionally, in August
2023, SF Intra-city partnered with Meituan, another food
delivery platform, to jointly build a delivery network for mainland
merchants, co-creating the on-demand delivery industry
ecosystem. Introducing "SoFast" in Hong Kong is not intended to compete with
platforms like "KeeTa" but rather strengthens the foundation of the
on-demand delivery ecosystem. It also opens opportunities for
cooperation with various food delivery platforms, e-commerce
platforms, and new retail brands in Hong
Kong, collectively expanding the market.
SF Intra-city is actively recruiting a large number of rider
partners, including walkers, bicycle riders, drivers of
motorcycles, passenger cars, and vans in Hong Kong. The rider-specific mobile
application (app), "SoFast Rider", for the Hong Kong region is now available for public
download on major mobile app stores. Users can register as the
riders with just a mobile phone number, select their working areas,
upload identification documents, and undergo offline training to
qualify for order assignments. The platform's delivery tasks would
focus on documents, small packages, and other non-food deliveries
recently. The per-kilometer income for deliveries is twice as high
as that of other food delivery platforms, with potential earnings
of up to HK$300 per hour.
Additionally, the Group has launched a referral rewards
program, encouraging existing "SoFast" delivery partners to
recommend friends to join, with rewards reaching over HK$800. Both the referrer and the new joiner can
benefit from a successful referral. The more referrals and
deliveries, the greater the rewards. Interested individuals can
follow SF Intra-city's official communication channels on mobile
apps like WhatsApp and Telegram for delivery partner registration
procedures and more information.
Looking ahead, SF Intra-city aims to further benchmark its
mainland China services,
developing and expanding "pick-up and delivery" services for
individual users and integrating more merchant-owned apps and food
delivery platforms. Leveraging deep collaboration and
integration with the SF Group, SF Intra-city aims to support the
development of "last-mile" business and building an integrated
supply chain solution. It will provide scalable, open, and
round-the-clock professional services to merchants, users, and
significant commercial and logistics platforms, enabling order
fulfillment from diverse channels. The goal is to achieve full
coverage of food delivery, local retail, proximity e-commerce, and
on-demand services. SF Intra-city aims to bring a new perspective
to Hong Kong by introducing a
comprehensive third-party on-demand delivery model. After
accumulating overseas expansion experience in this highly
internationalized Greater Bay Area city, this milestone launch
serves as a springboard for further exploration of opportunities in
overseas markets.
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SOURCE SF Intra-city