After Zomato, Swiggy scales down its grocery marketplace operations – leaving more space for JioMart, BigBasket, Amazon and others
- Indian foodtech unicorn
Swiggyis reportedly scaling down its grocery and fresh produce deliveries.
- However, the $3.6 billion startup said that it will continue to focus on meat, seafood, gourmet and its instant grocery delivery service — Instamart.
- Even though Swiggy operates food delivery services in 500 cities, its grocery delivery service will now be restricted to 20 cities.
“We expanded our services across the country during the lockdown as consumers turned to Swiggy not just for food but also other essentials. Given that movement restrictions have been eased, we are rolling back grocery delivery and focusing on offerings like
However, not everything will be toned down. The $3.6 billion startup said that it will continue to focus on meat, seafood, petcare gourmet and its essential delivery service Instamart, which delivers products like groceries, fresh fruits & vegetables, personal care items among other things. “With a delivery promise of 30 to 45 minutes, Instamart is rapidly becoming a favourite among consumers (in Bangalore and Gurgaon) while unlocking a new dimension of convenience retailing in India,” said the spokesperson.
AdvertisementEven though Swiggy operates food delivery services in 500 cities, it has said that it will restrict grocery to about 20 cities. “Pre-COVID, 80% of Swiggy’s business was food delivery, and the remaining came from other segments. The company expects this ratio to change to 50-50 in the next 2 to 3 years, with increased contribution from grocery, cloud kitchen, etc,” said a Goldman Sachs report from November, 2020.
Interestingly, Swiggy’s rival Zomato, which had also forayed into grocery delivery with the
This leaves the market with players like JioMart, Amazon, Flipkart, Grofers and BigBasket, which is reportedly in talks with the Tata Group for an investment.
Steadview Capital invests in SoftBank-backed logistics unicorn Delhivery – founder eyes an IPO in the next 15 months
Another unicorn – Indian SaaS startup Zenoti enters the coveted club with a $160 million funding
- Reebok launches a new range of shoes made from eucalyptus, bloom algae and natural rubber before World Earth Day
- Instagram’s new tool will let you choose the words and phrases you want to restrict in your DM requests
- Meet Jaipur Rugs, an organisation that is empowering marginalised women in Rajasthan and exporting its local rugs to 65 countries
- 11 patients die on ventilator beds due to oxygen leak in a hospital in Nashik
- Amazon Fire TV Cube streaming box launched in India at ₹12,999