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News on Medial
Can Ola’s ONDC Food Delivery Bet Match Swiggy, Zomato?
Inc42
·
1y ago
Medial
The recent debate surrounding Zomato and Swiggy on social media was mainly focused on the platform fees charged by these food delivery apps. While users criticized the increasing fees, alternatives like Ola and Paytm lack the operational expertise and resources to be competitive in the food delivery sector. Ola, backed by ONDC, aims to challenge the market leaders and has reduced take-rates for restaurants. However, industry insiders suggest that Amazon is closely monitoring Ola's progress in the food delivery space before potentially entering the market. Despite the criticism, Zomato and Swiggy continue to dominate the market with no significant competition in sight.
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Swiggy To Command Lower Valuation Than Zomato In Public Market: Elara Capital
Inc42
·
10m ago
Medial
Swiggy, the upcoming IPO-bound food delivery platform, will face challenges to match Zomato's valuation unless it gains market share and achieves profitability, according to Elara Capital. Swiggy will need to reach Zomato's EBITDA margin in food delivery and break-even in quick commerce, which may be a long-term goal. Zomato was valued at $12 billion during its IPO, while Swiggy aims for a $15 billion valuation, marking a 40% premium to its previous valuation of $10.7 billion.
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Ola Consumer nears 1 lakh daily orders on ONDC; Bengaluru food delivery at 20% of Swiggy-Zomato's scale: Bhavish Aggarwal
Money Control
·
11m ago
Medial
Ola Consumer, part of the Ola group, is processing around 100,000 orders per day through the Open Network for Digital Commerce (ONDC). ONDC is an open ecosystem that allows businesses like Ola Consumer to offer services such as ride-hailing, food delivery, and hyperlocal logistics. Ola Consumer has experienced significant growth in its food delivery service, with a focus on Bengaluru, and aims to challenge the dominance of competitors like Zomato and Swiggy. Additionally, Ola Consumer plans to expand its quick commerce service and launch automated dark stores.
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NRAI to approach CCI over "private labelling" by Zomato, Swiggy
Economic Times
·
6m ago
Medial
The National Restaurant Association of India (NRAI) plans to approach the Competition Commission of India (CCI) regarding concerns over private labeling by Zomato and Swiggy. NRAI President Sagar Daryani criticized their quick commerce ventures, citing anti-competitive practices, data masking, and deep discounting. The NRAI is also worried about Zomato and Swiggy's procurement of food from third-party kitchens. Daryani suggests considering alternatives like ONDC to ensure fair competition in the food delivery market.
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ONDC mulls subsidy comeback amid slowdown in food delivery - The Economic Times
Economic Times
·
28d ago
Medial
The Open Network for Digital Commerce (ONDC) is considering reviving incentives worth Rs 100-150 crore for food delivery firms, reversing its earlier decision to stop subsidies. This move aims to counteract the dominance of Zomato and Swiggy by attracting 80-100 million orders. Despite high commission fees, ONDC, with 10-11% commissions, struggled to scale due to logistical issues. The incentives could boost ONDC's volume growth temporarily in the price-sensitive customer segment.
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Magicpin food delivery order doubles to 10 lakh on ONDC during World Cup
Economic Times
·
1y ago
Medial
Food delivery orders on hyperlocal startup magicpin doubled to 10 lakh during the cricket World Cup matches on the government-backed Open Network for Digital Commerce (ONDC) network. Magicpin delivered 35,000 food orders during the India versus Pakistan match and peaked at 50,000 orders on a single day during the India versus Australia match. The company had offered discounts worth Rs 50-100 crore to cricket fans on food delivery and other categories during the World Cup. Magicpin's food delivery business is witnessing 2 times growth month-on-month.
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10-Minute Food Delivery: Why Swiggy Is Still Betting on Bolt While Zomato Walks Away
OutlookIndia
·
2m ago
Medial
Swiggy and Zomato have diverged in their approach to 10-minute food delivery services. Swiggy continues to invest in its Bolt service, which contributes 12% to its food delivery volumes, seeing it as a growth opportunity. In contrast, Zomato has exited the segment due to profitability challenges. While Swiggy aims to enhance market share through Bolt, industry experts question the long-term viability and profitability of such quick delivery models.
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Social, Farzi Cafe founders bat for ONDC as Swiggy, Zomato eat up 55% of order values
Money Control
·
1y ago
Medial
Top restaurateurs Riyaaz Amlani and Zorawar Kalra advocate for the government-backed Open Network for Digital Commerce (ONDC) as a solution to the high charges imposed by food aggregators like Zomato and Swiggy. They argue that the aggregators are consuming around 55% of their order values through delivery charges, discounts, and discovery costs. Amlani and Kalra believe that commissions beyond 12% are unsustainable for restaurants and that ONDC offers more control and better margins for sellers. ONDC aims to make e-commerce interoperable and empower businesses, though it had a slow start initially.
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McDonald’s North & East Joins
Inc42
·
1y ago
Medial
McDonald's India North & East has joined the government-backed open network for digital commerce (ONDC) to enhance accessibility for its customers. Through this partnership, McDonald's products will be available across ONDC buyers' applications. The move follows Domino's Pizza joining ONDC in January. ONDC is an open network launched in 2022, aiming to eliminate the existing closed network of digital commerce and allow small businesses to participate. It offers a cheaper alternative to food delivery platforms like Swiggy and Zomato, with commissions around the single-digit range. However, sustainability concerns have been raised regarding the network's price incentives.
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Zomato, Swiggy Instamart clock record orders on Mother's Day, beat New Year's Eve numbers
Economic Times
·
1y ago
Medial
Food delivery platforms Zomato and Swiggy Instamart experienced a surge in orders on Mother's Day, surpassing the record volumes seen on New Year's Eve. Zomato's Blinkit and Swiggy's Instamart reported increased demand for items such as chocolates, roses, handbags, smartwatches, jewelry, and perfume. Swiggy Instamart observed varying popular orders across different cities, with roses being the top choice in Bangalore and Mumbai, chocolates in Delhi, plants in Hyderabad, cakes in Chennai, and perfumes in Kolkata. Additionally, Ola and Magicpin collaborated to deliver food items on Mother's Day through the Open Network for Digital Commerce (ONDC).
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Now, IRCTC Joins Hands With Swiggy For Pre-Ordered Meal Deliveries
Inc42
·
1y ago
Medial
The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with food delivery platforms Zomato and Swiggy for the supply and delivery of pre-ordered meals. Zomato had previously partnered with IRCTC for a pilot program, while Swiggy has now joined as well. The partnership will initially cover four railway stations in Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. Zomato currently holds a 54% market share in the Indian food delivery market, while Swiggy is preparing for an IPO and aiming for profitability in FY24. IRCTC's catering business has seen a 30% YoY increase.
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