In July 2018, MVL Foundation Pte Ltd (Mass Vehicle Ledger, MVL) launched its blockchain-based ride-hailing app in Singapore.
Today, it announced the launch of TADA Fresh Market, an online multi-wet market shopping platform. It delivers grocery from wet markets in Singapore directly to your doorstep.
Explaining the move behind this new launch, TADA reasoned that wet markets offer more value and freshness to buyers.
However, since they are not well-connected to digital distribution channels, TADA Fresh Market aims to bridge the offline-to-online delivery gap.
Currently, TADA offers delivery of produce like vegetables, fruits, seafood, meat and poultry from 36 stalls across the Tekka and Tiong Bahru wet markets.
Shoppers must place a minimum order of S$30 to shop from the TADA Fresh Market. A minimum spend of S$50 will entitle shoppers to free delivery, but a delivery fee of S$3.85 will be charged for orders below S$50.
Singtel, SAFRA and NTUC members will get to enjoy discounts on the platform.
TADA Fresh Market intends to serve and foster the ecosystem of wet market vendors, drivers, and buyers, and drive an equitable distribution of the created value.
The drivers get paid via the TADA app for delivery runs whereas the vendors through bank transfer for the goods sold the next working day.
According to the National Heritage Board, there are about 107 wet markets in Singapore, and TADA Fresh Market will soon be onboarding more vendors from other markets including those in Bedok, in the next phase of this wet market digitisation drive.
“With TADA Fresh Market, we want to be a game-changer for wet market business in Singapore which has been very traditional and heavily dependent on cash-based transactions in the past,” said Jonathan Chua, Southeast Asia, General Manager, TADA.
“COVID-19 has accelerated digitisation of small business owners, including those in the wet markets, and now the old and new generation of grocers are more willing to go online and receptive to technologies that support their business. We are excited to tap their openness to tech and unlock economic value.”
After the first circuit breaker, online shopping for groceries has seen a rise in Singapore. Since its soft launch, about 90 per cent of TADA Fresh Market customers are coming back to the website for repeat purchase of wet market goods.