PETALING JAYA: Thailand-based virtual queue start-up QueQ has its sights set on achieving 250 food & beverage (F&B) partners by the end of 2021 from the 30 it has currently since its debut in May this year.
Its international business development director and country manager for Malaysia, Shang Leong said the company is very positive that it will be able to capture 10% of the 2,500 registered restaurants in Malaysia.
“Of course it is not possible to have QueQ in every single restaurant because not all restaurants have queues, hence our addressable market is 250 restaurants in two years,” he told SunBiz in an interview recently.
Leong explained that the strategy for the app is to start off in the restaurant segment which could bring value to its restaurant partners.
“With QueQ, F&B partners will have the ability to increase efficiency that would translate into savings in their overhead costs by cutting down the number of staff.”
“For the diners, this will provide a higher level of dining experience for them as they no longer have to stay in line as they are able to book a table online.”
Going forward, he said more services will be rolled out on the app, including pre-order to complement the existing queuing solutions.
In Thailand, QueQ has garnered over 600 F&B partners while getting into its stride within other industries such as banking, teleco and healthcare services.
Besides Thailand and Malaysia, the company has ventured into Taipei, Taiwan and Fukuoka, Japan.
“We have plans to look at other markets with a strong population base where people typically queue for their F&B choices,” said Leong.
With regards to its non-F&B expansion in Malaysia, QueQ will be kicking off with partnership with teleco providers. It is in talks with one of the players here.
The startup also sees potential in the healthcare service centres with focus on hospitals beyond 2021.
“The market is exciting for us as there are approximately 500 hospitals in Malaysia alone, with a fairly even split between the number of private and public hospitals.”
Currently, QueQ has over four million users across the world with roughly 220,000 users in Malaysia.
“Our users sees strong value in our apps as our usage rate is 35%, which is defined by a user that uses our app more than two times in a month,” Leong added.