Ttaenggyeoyo Poised for Third Place in Delivery Market... Overtaking Yogiyo Within Reach

Ttaenggyeoyo Approaches 3.5 Million MAU Last Month
Gap with Yogiyo Narrows

The public delivery app "Ttaenggyeoyo" is expected to soon surpass Yogiyo in the delivery app market. This outlook is based on the explosive growth in Ttaenggyeoyo's user base this year, while Yogiyo has experienced a decline. As the gap continues to narrow, some analysts believe that Ttaenggyeoyo could secure the third spot in the market by monthly active users (MAU). The rise in Ttaenggyeoyo's user numbers is drawing attention as it could serve as an alternative in a market that has long been plagued by disputes over commission fees.

According to Mobile Index, a service by data platform company IGAWorks, Ttaenggyeoyo recorded 3.49 million MAU last month. This is an increase of about 200,000 users from the previous month. Compared to the beginning of the year, the number of users has surged by 2.43 million, representing growth of over 230%.

This growth is attributed to promotional campaigns by local governments and the impact of the "Livelihood Recovery Consumption Coupon" introduced in the second half of the year. To use these consumption coupons on delivery apps, users must utilize "on-site payment." Ttaenggyeoyo supports payment with local currency, allowing users to apply the coupons both for in-app and on-site payments. Discount coupons funded by public budgets are also being offered as part of efforts to promote public delivery apps.

Meanwhile, while Baemin and Coupang Eats maintain their dominance as the top two players, Yogiyo has seen a continuous decline in users throughout this year. Last month, Baemin, Coupang Eats, and Yogiyo recorded MAUs of 23.06 million, 12.39 million, and 4.42 million, respectively. The gap between Yogiyo and Ttaenggyeoyo has now narrowed to less than one million users. Yogiyo's user base has decreased by 15.4% compared to January of this year. If this downward trend continues, industry insiders believe that Ttaenggyeoyo could overtake Yogiyo in the rankings.

The surge in Ttaenggyeoyo's user numbers, now rivaling Yogiyo, is attracting attention as it offers an alternative for small business owners facing ongoing social conflicts over commission fees. Operated by Shinhan Bank, Ttaenggyeoyo positions itself as a public delivery app by promoting its intermediary commission rate in the 2% range and free advertising. Until recently, both participating businesses and users were at a disadvantage compared to established platforms.

If Ttaenggyeoyo can retain these newly acquired users, it could create a virtuous cycle of "mutual growth," with more businesses making Ttaenggyeoyo their primary platform. Increasingly, business owners are choosing Ttaenggyeoyo as an alternative to Baemin and Coupang Eats. The owner of a bakery in Seoul commented, "The commission and delivery fees on Baemin and Coupang Eats were too burdensome, so I decided to switch to Ttaenggyeoyo for deliveries. I am continuously guiding customers to place orders through Ttaenggyeoyo."