#HOTTAB: This Company's POS Solution Could Be Enhancing A Growing Asian Food And Beverage Service Market

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From many indications, doing business in Southeast Asia (SEA) could be very attractive right now. Judging by some forecasts, companies in the region, like other parts of the world, are bouncing back and are tipped to experience growth after a ravaging COVID-19 pandemic.

The pandemic has been brutal, leaving in its trail collapsed businesses, faltering economies and millions of lives lost, but while recovery has been somewhat slow, the global foodservice industry has reportedly exploded.

Bouncing Back After COVID-19?

Goldstein Research forecasts the global foodservice industry size to reach $4.5 trillion by 2024, out of which Asia-Pacific (APAC) is projected to hold nearly a 40% market share and expand at a compound annual growth rate (CAGR) of 5.3% over the forecast years.

The numbers may be looking good thanks to the increasing number of quick-service restaurant chains and food outlets, coupled with positive growth in the travel and tourism industry.

As more players in the foodservice industry begin to adopt point of sale (POS) terminals for transactions, that sector has also been slated to see growth.

The Southeast Asian (POS) terminal market was valued at $2.7 billion in 2021, and it is expected to reach $6.8 billion by 2027, registering a CAGR of approximately 16.56% from 2022 to 2027.

The pandemic seems to have accelerated the migration to real-time payments as about a third (30%) of customers in SEA have reduced their use of traditional payment methods, such as cash and debit cards.

A Multilingual POS Application?

The shift may end up presenting a unique opportunity for companies in the POS space like the blooming #HOTTAB.

Founded in January 2015 in Hanoi, Vietnam, the company offers a multilingual POS application that enables restaurants, cafes, bars and stores to manage their businesses.

#HOTTAB says it offers tools that let businesses connect with their customers, manage orders and tables and access real-time reports and insights through their mobile phones or tablets.

It also enables them to connect with their printer and manage printouts, functioning online and offline and facilitating transactions, orders, voucher redemption, and rewards.

Merchants only need a smart device to quickly access the #HOTTAB product ecosystem through #HOTTAB POS App and #HOTTAB Biz. Hottab.net provides an analytic dashboard for merchants to analyze their daily orders and top-selling items.

The dashboard offers multichannel communication, self-service features, public relations (PR) capability, marketing functionality and live chat.

#HOTTAB states that its POS is a comprehensive, easy-to-use POS solution for businesses big and small, while #HOTTAB Biz is a loyalty and analytics app that transforms physical stores of all types into digitized storefronts.

The company reports that it provides food and beverage solutions to its partners — including Zaika, Maison de Tet décor and The Moose & Roo — along with professional customer care services from experts across Vietnam and other parts of SEA.

E-Commerce And Loyalty Programs

Society Pass Inc. SOPA provides merchants with #HOTTAB Biz as it attempts to redefine e-commerce and loyalty programs in Asia.

The company is an e-commerce ecosystem in SEA that offers lifestyle, merchant payment software and loyalty programs with a business model focusing on collecting user data through the expected circulation of its universal loyalty points.

Society Pass connects consumers and merchants across multiple product and service categories, fostering organic loyalty. Since its inception in 2018, the company has amassed over 1.6 million registered consumers and more than 5,500 registered merchants and brands on its platform.

Apart from #HOTTAB Biz, SoPa also operates Leflair.com, one of Vietnam’s leading lifestyle e-commerce platforms; Pushkart.ph, a popular grocery delivery company in the Philippines; and Handycart.vn, an online restaurant delivery service based in Hanoi, Vietnam.

In an ever-growing global food and beverage service industry that has players like Dine Brands Global Inc. DIN, Kura Sushi Inc. 2695 and Wendys Co. WEN,  #HOTTAB Biz could be helping to pave the way for SEA providers to take the global stage.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Photo: Hottab