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Namakkal restaurants cut ties with Swiggy, Zomato over commission dispute - The Economic Times
Economic Times
·
14d ago
Medial
Restaurants in Namakkal, Tamil Nadu, have halted services with Swiggy and Zomato from July 1 due to a commission dispute. The conflict arises from alleged unfair pricing and commission practices by the platforms, alongside delayed payments. An emergency meeting led by the Town and Taluk Hotels and Bakery Owners Association highlighted these concerns. With 85 eateries in Namakkal participating in online sales, the region experiences significant daily transactions, prompting an indefinite suspension of online orders.
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What is Swiggy’s 99 store for Gen Z and price-conscious users? - The Economic Times
Economic Times
·
15d ago
Medial
Swiggy has launched the '99 store' to attract price-sensitive and Gen Z customers, offering meals at Rs 99 with an 'eco saver' delivery option. This initiative comes as Swiggy-invested Rapido plans to introduce its food delivery service, Ownly, in Bengaluru, challenging the Swiggy-Zomato duopoly by offering lower commission to restaurants. The '99 store' is available in over 175 cities, featuring affordable meals and partner collaborations with local eateries and quick-service chains.
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Zomato Under Fire Again: NRAI Seeks Answers on Long-Distance Fee
StartupTalky
·
12d ago
Medial
Zomato faces criticism from the National Restaurant Association of India (NRAI) over a new long-distance service fee, which charges restaurants INR 15 for deliveries between 4 to 6 km and INR 25 to INR 35 for longer distances. Restaurants argue this fee contradicts Zomato's claim of a 30% commission cap, alleging increased costs. Additionally, many are resisting a new contract from Zomato's parent company, Eternal, which includes controversial clauses. The NRAI has been in legal disputes with Zomato and Swiggy since 2021 over perceived anti-competitive practices.
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Rapid Growth Of Zomato, Swiggy To Hurt QSR Sales: BNP Paribas
Inc42
·
1y ago
Medial
According to a report by BNP Paribas, the average daily sales of the Quick Service Restaurant (QSR) industry are declining due to increased competition and fragmentation. The report highlights the rapid growth of Zomato and Swiggy, which have significantly increased the number of restaurants on their platforms. In FY24, the number of active restaurants on Zomato increased to 51 times that of the total branded QSR stores, compared to 22 times in FY19.
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India’s consumers are changing how they buy
Livemint
·
9m ago
Medial
- Two-wheeled delivery services have become popular in India's congested cities, offering quick delivery times even in heavy traffic. - Three companies, Zomato, Zepto, and Swiggy, dominate the Indian food delivery market, with Swiggy set to go public at a valuation of $15 billion. - While Zomato is currently valued at $28 billion and turning a profit, Swiggy is still incurring losses, although they have improved over the past year. - Swiggy has experienced rapid growth in user numbers, almost doubling its revenues in three years, and expanding its rider base from 2022 with almost 540 "dark stores." - The convenience of doorstep delivery appeals not only to small home dwellers but also to restaurants looking to bypass Swiggy's commission fees and the reach of e-commerce giants like Amazon and Flipkart. - Swiggy's growth is not without challenges, including legal claims, regulatory investigations, and ensuring the quality and reliability of third-party deliveries.
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NRAI and food delivery platforms clash over private labels
YourStory
·
5m ago
Medial
The National Restaurant Association of India (NRAI) has expressed concerns over food delivery platforms like Swiggy and Zomato introducing private labels, potentially affecting restaurant partners. NRAI President Sagar Daryani highlighted the competitive pressure adding to restaurants' challenges. Zomato CEO Deepinder Goyal reassured that they wouldn't compete with partners through private labels. Discussions are ongoing, and NRAI plans to seek legal intervention and approach the Competition Commission of India for resolution.
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Restaurants body eyes legal challenge against 10-minute delivery apps
Economic Times
·
5m ago
Medial
The National Restaurants Association of India (NRAI) is planning legal action against 10-minute delivery apps by Zomato-owned Blinkit and Swiggy due to concerns over private labeling and data sharing. Despite discussions, no consensus was reached. The NRAI may also approach the Competition Commission of India and is exploring partnerships with ONDC for alternatives. Zomato CEO Deepinder Goyal emphasized that its Bistro service is not a private label and doesn’t threaten the restaurant industry.
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Swiggy rolls out Rs 99 meals in 175 cities for Gen Z and price-conscious users - The Economic Times
Economic Times
·
15d ago
Medial
Swiggy has introduced a "99 store" offering meals at Rs 99 across 175 cities, targeting Gen Z and price-conscious users. This initiative features quick-prep dishes with free delivery using the 'eco saver' mode, which combines multiple orders to reduce trips. Swiggy aims to provide affordable meals without compromising quality. This launch coincides with Rapido entering the food delivery market, challenging the dominance of Swiggy and Zomato by offering competitive commission rates to restaurants.
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NRAI to approach CCI against Zomato, Swiggy over 10-minute food delivery apps
Economic Times
·
6m ago
Medial
The National Restaurant Association of India (NRAI) plans to approach the Competition Commission of India over Zomato and Swiggy's launch of standalone apps for 10-minute food delivery, citing anti-competitive practices. NRAI alleges these apps operate like private labels, potentially shifting customers from partner restaurants to products sold directly by Zomato and Swiggy. NRAI opposes this model, fearing it undermines competition and customer transparency, and considers legal action against these practices.
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ETtech Q&A | Zomato to roll out new initiatives to stem slowing growth in food delivery biz: CEO Deepinder Goyal
Economic Times
·
4m ago
Medial
Zomato, recognized as the Emerging Company of the Year at The Economic Times Awards for Corporate Excellence 2024, plans new initiatives to revive its food delivery growth. CEO Deepinder Goyal highlights plans in quick commerce and exploring 10-minute deliveries in collaboration with restaurants. While maintaining disciplined execution, Zomato focuses on aligning the interests of restaurants, customers, and itself. The company emphasizes strategic investments in its various businesses like Blinkit, District, and Hyperpure to ensure sustainable growth and profitability.
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Swiggy enables Rs 450 crore in disbursals through restaurant financing programme
Economic Times
·
1y ago
Medial
Online food delivery platform Swiggy has disbursed over Rs 450 crore to more than 8,000 restaurants since 2017 through its financing programme. The programme allows restaurants to access financial products such as term loans and credit lines from lending firms. Swiggy is in a fierce competition with rival Zomato for market share in the food delivery industry and is also eyeing a public listing.
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