Grab is vulnerable to low switching costs spurred by incentives offered by competitors

$Grab Holdings(GRAB.US)$
$Morningstar(MORN.US)$ : We believe its current strategy is to cultivate switching costs for its business to develop a moat around its platform. It wants to combine everyday consumer services into a comprehensive super-app, which includes its ride-sharing, food and grocery delivery, and also its nascent financial services business. By incorporating different services, Grab hopes to capture a flywheel effect on its platform where users will subsequently increase time spent on its app. transforming the platform into a ubiquitous ecosystem that plays an important part of daily life in Southeast Asia, much like $Tencent(TCEHY.US)$ 's WeChat with China.