0857 GMT - Grab's record 1Q earnings signal a growing shift in the consumer and retail sector in Southeast Asia, BMI, a unit of Fitch Solutions, says in a note. Grab's delivery revenue grew 23% despite rising fuel costs, signaling that appetite for on-demand services has moved beyond pandemic-era adoption into a structural consumer habit, BMI says. The key question is whether this growth will expand the market or begin compressing margins of in-store retail and restaurant spending, it adds. Early signals suggest a mix of both, but the substitution effect might intensify as platforms use artificial intelligence to personalize user experience and shape consumer behavior, it writes. The Foodpanda Taiwan acquisition will test whether Southeast Asian delivery economics can translate to a higher-cost, saturated market, it says. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

May 07, 2026 04:57 ET (08:57 GMT)

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