In a bold move to solidify its position as a market leader, Line Man Wongnai is set to invest 300 million baht in its most ambitious marketing campaign in three years, focusing on user base expansion and revenue growth.
The firm is also preparing for an initial public offering on the Stock Exchange of Thailand (SET) next year.
Line Man Wongnai currently boasts a user base of 10 million.
Data from Creden indicates that revenue for Lineman (Thailand), exclusive of Wongnai, reached 11.6 billion baht in 2023—a remarkable 49% increase year-on-year, despite reporting losses of 253 million baht last year.
In comparison, Grab Taxi (Thailand) reported a revenue of 15.6 billion baht in 2023, marking a 2.8% increase, with profits surging by 127% to 1.3 billion baht.
The online food delivery sector contributes 15% to a total food market valued at 180 billion baht.
“We see significant potential for growth in Thailand’s online delivery market, with projections indicating it could surpass 20 million users soon,” stated a company executive.
Despite economic uncertainties, the current year has been promising for food delivery services, with expectations for high single-digit growth. Line Man Wongnai anticipates even better performance than the industry average.
This 300-million-baht marketing initiative, described as the largest in three years, features the “Everyday Lowest Prices” campaign designed to increase user engagement.
The campaign will encompass 500,000 participating merchants, discount coupons, free delivery promotions, and a comprehensive multi-channel advertisement approach, both online and offline, running through the end of the year with anticipated fourth-quarter growth of 25% year-on-year.
The company is leveraging the “Moon” mascot as its brand ambassador, showcasing the growing trend of mascot marketing.
The executive acknowledged competition from rival delivery app Robinhood and anticipated foreign e-commerce operators entering the market.
However, he noted that building a substantial merchant base and driver fleet will be challenging for new entrants in the short term, giving Line Man Wongnai an edge with over 700,000 merchants and extensive service coverage across 328 districts.
Recent government digital handout initiatives have rekindled engagement among inactive users in rural areas, driving renewed activity on the platform.
Looking ahead, the company is exploring ‘borrow now and pay later’ options and integrating artificial intelligence to enhance services for tourists by translating local content into English and Chinese.
Collaboration with the Tourism Authority of Thailand aims to promote culinary hotspots, while the company is focused on diversifying revenue streams through point-of-sale and payment services, currently accounting for over 50% of total revenue.
Line Man Wongnai expects to launch its IPO by the third or fourth quarter of 2025.
