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Swiggy quarterly loss nearly doubles on higher quick commerce spending

VCCircle

VCCircle · 3m ago

Swiggy quarterly loss nearly doubles on higher quick commerce spending

Swiggy reported a quarterly loss of 10.81 billion rupees, nearly doubling from the previous year's 5.55 billion, due to increased spending on its quick commerce business to compete with rivals like Blinkit and Zepto. Despite the loss, revenue from operations surged by 45% to 44.1 billion rupees, driven by strong growth in its Instamart service, which saw its gross order value double year-on-year. Instamart also expanded its network by adding 316 new dark stores.

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Swiggy Food CEO Rohit Kapoor sees Bolt as core future offering

Economic Times

Economic Times · 2m ago

Swiggy Food CEO Rohit Kapoor sees Bolt as core future offering

Swiggy is leveraging its 10-minute food delivery service, Bolt, to boost growth and market share in its most lucrative vertical. Despite rival Zomato shutting down a similar service, Bolt is contributing 12% to Swiggy’s delivery volumes. Swiggy aims to drive both market growth and share, with new users showing higher retention rates. However, Swiggy's net loss widened due to expenditure on quick commerce, highlighting challenges in balancing user growth and profitability.

Quick commerce price war: Rivals offering steep discounts to capture market, says Swiggy CFO

Economic Times

Economic Times · 3m ago

Quick commerce price war: Rivals offering steep discounts to capture market, says Swiggy CFO

Swiggy, based in Bengaluru, is adopting a strategic approach toward expanding its quick commerce unit, Instamart, focusing on quality growth over aggressive expansion. The company is prioritizing customer retention and spending per user rather than offering steep discounts. While competitors chase market share with heavy discounts, Swiggy emphasizes efficient network use and long-term business building. Despite current competition pressure, Swiggy is optimistic about the segment's long-term profitability and monetization potential through improved efficiencies.

GameStop misses revenue estimates on slow videogame demand, competition

Economic Times

Economic Times · 1y ago

GameStop misses revenue estimates on slow videogame demand, competition

GameStop fell short of quarterly revenue estimates due to increased competition and reduced consumer spending amid economic uncertainty. The company reported Q3 revenue of $1.08 billion, missing estimates of $1.18 billion. This comes as the gaming industry faces challenges with uneven spending. GameStop's shares dropped nearly 3% in extended trading. The results are the first since Ryan Cohen joined as CEO and chairman in September, steering GameStop towards e-commerce but also focusing on brick-and-mortar stores. The company managed adjusted breakeven earnings per share and reduced expenses by nearly 24% to $296.5 million.

Quick commerce feels the love as Valentine day sales surge

Economic Times

Economic Times · 1y ago

Quick commerce feels the love as Valentine day sales surge

Quick commerce platforms like Zepto, Swiggy, and Blinkit reported record-breaking sales on Valentine's Day. Orders for items such as flowers, chocolates, perfumes, and contraceptives surged, with Zepto experiencing a 20-25% increase compared to normal days. Swiggy Instamart saw a significant spike in sales for roses and chocolates, while Blinkit reported their highest-ever orders per minute. The average order values also increased due to higher prices in high-demand categories. These occasions are becoming key drivers for user acquisition and retention in the quick commerce industry.

Eternal vs Swiggy: diverging strategies, converging goals - BusinessToday

Business Today

Business Today · 2m ago

Eternal vs Swiggy: diverging strategies, converging goals - BusinessToday

Eternal, Zomato’s parent company, is financially outperforming Swiggy, recording its fourth profitable quarter with a ₹537 crore net profit in FY25. Meanwhile, Swiggy posted a ₹3,117 crore loss, still reliant on its core food delivery business as Instamart grows. Both companies are focusing on quick commerce, with Swiggy launching 'Bolt' for 10-minute deliveries, seeking to outpace rivals like Zepto and BigBasket while targeting profitability amidst intense competition.

Swiggy, Zepto and Zomato's Blinkit cash in on quick commerce boom

VCCircle

VCCircle · 1y ago

Swiggy, Zepto and Zomato's Blinkit cash in on quick commerce boom

Swiggy, Zepto, and Zomato's Blinkit are capitalizing on the boom in quick commerce in India. Swiggy, backed by SoftBank, has expanded its grocery business, aiming to deliver orders within 10 minutes. This new model is threatening traditional small grocery stores and reshaping the way Indians shop. Quick deliveries currently account for 45% of the $11 billion online grocery market in India, with expectations that it will reach 70% by 2030. Swiggy plans to increase its warehouse count from 500 to 750 by 2025 and is diversifying its offerings beyond groceries into higher-margin products.

Buy Swiggy, Zomato shares as QC concerns overblown

Business Today

Business Today · 5m ago

Buy Swiggy, Zomato shares as QC concerns overblown

ICICI Securities suggests that concerns about competition in the quick commerce (QC) sector affecting Swiggy and Zomato are exaggerated. The market overlooks the positive growth in the food delivery sector. Food delivery has scaled profitably over the past two years. Tax cuts announced in the union budget for FY26 could benefit these companies, with potential long-term investment opportunities. Despite reduced marketing spending in quick commerce, maintaining valuations and securing fresh funding remains challenging.

Zomato expands horizons with new ’District’ app amid strong earnings | Mint

Livemint

Livemint · 1y ago

Zomato expands horizons with new ’District’ app amid strong earnings | Mint

Food delivery giant Zomato has launched a new app called 'District' to target the "going out" segment, including movies, shopping, and staycations, expanding its services beyond food delivery. The app will be built as a separate brand using Zomato's existing traffic. In its quarterly report, Zomato reported a significant increase in net profit, driven by higher gross order value in its food delivery, quick commerce, and going-out verticals. Zomato's quick commerce unit, Blinkit, plans to establish 2,000 stores by the end of 2026, focusing on speed, execution, and supply chain efficiencies.

Zepto’s FY24 Revenue More Than Doubles To INR 4,454 Cr

Inc42 · 7m ago

Zepto’s FY24 Revenue More Than Doubles To INR 4,454 Cr

Zepto, a quick-commerce platform, saw a significant increase in operating revenue by 120% in the past year, reaching INR 2,025.70 Cr. However, the net loss for the company decreased slightly by 2% to INR 1,248.64 Cr. Zepto's CEO, Aadit Palicha, expressed optimism for continued growth and expects to achieve profitability in the near future.

Zepto’s 50:50 Bet: Can It Balance The Quick Commerce Scale?

Inc42 · 9m ago

Zepto’s 50:50 Bet: Can It Balance The Quick Commerce Scale?

Quick commerce has rapidly transformed the ecommerce landscape in India. From Swiggy to Zepto to Blinkit, various companies are venturing into quick deliveries. While fruits and vegetables currently dominate demand, there is a shift towards a more balanced split between grocery and emerging categories like beauty, personal care, home appliances, apparel, and electronics. Thin margins in the grocery vertical drive the need to explore higher-margin categories. Quick commerce platforms aim to provide high-quality essentials at great value and expand their presence in tier 2 cities. The convenience and lack of accessible grocery chains in certain areas contribute to the popularity of quick commerce. Overall, the dynamics of quick commerce in India are evolving rapidly.

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