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Portfolio Review
Delivery Platforms (KSA)
Delivery platforms are the bread and butter of our business, with Jahez, PIK and Blu smartphone applications making up the biggest revenue earners for the Group. Our platforms cater to millions of customers in the Kingdom focusing on food delivery and the delivery of other goods via sophisticated digital platforms that connect end-users with merchant partners via growing network of delivery partners.
Jahez remained the largest topline contributor during the reporting period, accounting for some 85% of the business in 2023. The eponymous ‘Jahez’ smartphone platform, still the Group’s best-known online platform, connects customers, restaurants and drivers in a sophisticated digital solution designed to deliver its services to 3.5 million customers in the fastest possible time, with unmatched convenience, reliability and efficiency. Under this vertical, in addition to the main Jahez platform are a number of internal-facing products, such as operation panels developed to enhance team efficiencies, along with other consumer products, such as the Prime subscription service, that offers free delivery for a selected base of merchants serving different consumer segments.
| Total by end of 2023 | YoY change | |
| Active Users | 3,549,480 | 24.9% |
| Merchant branches | 37,932 | 47.8% |
As of end December 2023, the group has completed 84.8 million order through its platforms during the reporting year.
The past year saw a number of important developments in this sector that cemented Jahez’s position as one of the market leaders. These include:
New Strategic Partnerships
In September, Jahez partnered with one of the largest telecommunication service providers in the MENA region and also with one of the Kingdom’s most prominent banks, with a customer base of 30 million and 20 million respectively. This was with the objective of expanding Jahez’s own user-base and increasing revenue.
Customers can now use the Jahez app’s in-built wallet function to redeem points earned from the telecom company when ordering food through the Jahez app. This results in new customer acquisitions for Jahez, while the point-redemption feature also helps retain customers.
A similar arrangement will be made with the aforementioned bank.
There will likely be some overlap between the consumer bases of the telecom company and the bank, and, with the possibility that existing Jahez customers are already among those numbers, the Group is targeting a customer acquisition through this exercise.
Revamping Merchant Portal
During the reporting period, Jahez partnered with 13.9K merchants, from high-end restaurants and supermarkets to home bakers and corner shops. Over the course of the year, the business began work on revamping its exclusive merchants’ portal in a bid to speed up the onboarding process for restaurants and other businesses and using the services and solutions provided for them through the portal to scale their sales and accelerate their growth. Going into 2024, the revamped system will see new merchant partners who join Jahez network in the coming months be online in as short a time as possible. Behind this exercise is the philosophy that the sooner our merchant partners are online, the sooner Jahez is able to capture value.
Explore Tab
An Explore tab was added to Jahez app this year as a new revenue stream. The tab functions as a marketing tool and generates revenue for Jahez by allowing merchants to advertise their products. The Explore tab also contains links to PIK and Blu apps, directing traffic to those applications. This move is anticipated to boost sign-ups for the Group’s two main e-commerce platforms in 2024.
An AI-based recommendation engine powers the Explore tab, displaying restaurant and meal information to customers based on their behavioral data and user profile.
Marketing Support Package
A new marketing support package was developed for restaurants in 2023, entitling full marketing support for restaurant partners. This helps the restaurants to have a clear business plan and growth direction to expand their reach and offerings and optimize their volume.
