Inc42 Media’s Post

The Indian food delivery space is currently a duopoly with Zomato holding about a 55% market share and the rest being cherished by Swiggy. However, IPO-bound Swiggy is far behind its listed rival👇 🔶 In the Q1 of FY25, Zomato’s food delivery GOV stood at INR 9,264 Cr, while Swiggy’s stood at INR 6,808.3 Cr. In Q1, Zomato also had a higher average monthly transacting customers at 20.3 Mn users compared to Swiggy’s 14.03 Mn. 🔶 Notably, in FY24, Swiggy posted a GOV of INR 8,068.6 Cr in quick commerce, up over 57% YoY. Meanwhile, Zomato’s Blinkit clocked INR 12,469 Cr in FY24 GOV, up 93% YoY. This was despite an equal number of dark stores at around 520 at the end of FY24. 🔶 Quick commerce has become the dominant force in India’s ecommerce structure – however, Swiggy is trailing behind Zomato in this area, too. 🔶 Meanwhile, #Zomato is way ahead of Swiggy in the going-out segment. Given this, and the fact that #Swiggy has hefty losses on the books along with a high valuation – will the foodtech major be able to replicate Zomato’s success on the bourses? Let us know your thoughts in the comments! #ipo #quickcommerce #delivery

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Abhishek Chakraborty

Business Strategy & Product Management @ FSS | Payments | Analytics | Fintech | Payment Gateway, Real time Payments, CBDC solutions, Digital wallets and Card Management Solutions | APAC, Middle East and North America

2mo

It's definitely intriguing how the conversation is so heavily centered around Zomato and Swiggy, almost creating a false sense of duopoly. With ONDC gaining traction and enabling local players to compete on a larger scale, the dynamics of the food delivery market could change significantly. Smaller businesses now have a real shot at competing without relying on the major platforms, which could lead to more competitive pricing and better customer experiences. It’s exciting to think about how much the landscape might evolve in the coming years as ONDC scales up!

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