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Quick commerce can be bigger than food delivery, won't be a duopoly: Swiggy founder Sriharsha Majety

Economic Times · 22d

According to Swiggy founder Sriharsha Majety, quick commerce has the potential to become a larger business than food delivery in India. Unlike food delivery, quick commerce is not expected to be a duopoly. Swiggy's valuation for its upcoming IPO is based on its growth plans and not directly benchmarked against Zomato. Investors are excited about the growth potential of quick commerce in India, which has shown profitability and growth in various categories. Swiggy aims to maintain market share and profitability in the intense competition of quick commerce by focusing on assortment and convenience for consumers. They also plan to continue innovating and scaling existing and new businesses while keeping profitability in mind. The next big business for Swiggy is yet to be determined based on consumer feedback, but they have launched a pilot for a private members' club called Rare. In terms of the food business, Swiggy aims to grow faster than the overall industry by unlocking new consumption occasions, use cases, and affordability. They are exploring new delivery options like 10-minute food delivery and focusing on expanding in big cities.