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Swiggy was successful since its inception due to several innovative strategies
Swiggy changed this trend and build an extensive logistics network
Swiggy had managed to become a market leader in the food delivery business
When Swiggy was launched, the online food delivery market wasn’t doing so well. The investors all around the world had little confidence in the food delivery market and any venture’s ability to build a robust business model was questionable. However, not only Swiggy was successful since its inception due to several innovative strategies used but also raced far ahead of its competitors like Zomato and Foodpanda in terms of success and profits.
The core reason for this unprecedented success of Swiggy is in a rather shaky market is nothing but its excellent logistics operations. Before Swiggy, companies like Zomato, Tinyowl, etc put efforts in designing attractive apps to connect the customers to the restaurants however they left the delivery of the orders either to the restaurants or other third-party logistics providers. Swiggy changed this trend and build an extensive logistics network which included a vast number of their delivery boys. From its inception, Swiggy was customer-focused and wanted to give the best delivery experience to its customers. This resulted in excellent customer retention and high repeat purchase rates for Swiggy.
Within a year, Swiggy had managed to become a market leader in the food delivery business, encouraging other companies to recognize their competition. Swiggy also began charging for its delivery services which were unheard of within the market. Customers flocked to Swiggy due to the excellent customer experience they provided. On-time and consistent deliveries, all days of the week along with partnerships with many top restaurants were the USP of Swiggy. This resulted in Swiggy joining the unicorn club (of companies valued over $ 1 billion) of startups in just over 5 years. Its competitors like Zomato are spending crores of money to catch up to its success.
What is Swiggy?
Swiggy is India’s biggest food ordering and delivering company in India. The business was introduced by, BITS-Pilani alumni SriharshaMajety and IIT-Kharagpur alumnus Nandan Reddy and Rahul Jaimini in 2014. After resigning from Myntra the aspiring business mind Reddy gave India an entire food ordering and delivery application and took over the market. Located in Bengaluru, Swiggy was launched as a startup in August 2014. Begun as a crew of six delivery personnel and dealing with 25 restaurants, Swiggy is now working in more than 100 cities.
Currently priced at $3.3billion, had earlier this year gained Kint.io a startup which trains in connecting deep learning and computer vision for object identifying in videos, for an undisclosed cost. Swiggy’s also holds other startups such as Supr Daily, Scootsy, 48east.
Bangalore-based business Swiggy is a food delivery company. Being a part of Unicorn Club, and new businesses and products extensions. With its launch in hyperlocal service market of supermarkets and household goods, Swiggy stores. Now, they are observed putting their hands into the ready-to-cook market as well.
Swiggy’s tool over the hyper-local delivery market has not only offered accessibility to its users but it has also produced new opponents for other companies as well.
With the use of the Internet and Technology, the food delivery company have controlled the market. Swiggy is known to be a unicorn in the Indian startup market and has built a reputation in the market. The firm has put up its name among the top e-commerce giants such as Flipkart and Walmart.
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