We’re bowled over by how massively and rapidly the food tech giant is growing. (touché!)
What we also know, is that the food delivery giant is always on to something new. This time it is testing the waters for E-commerce.
In The Bag
Swiggy has launched Minis, a marketplace for small businesses to broaden its offerings and enter the e-commerce industry. With its ‘national marketplace’ strategy, Swiggy will enrol local retailers and D2C companies on Minis.
Testing the Minis pilot has already begun.
Some More Scoop
Small businesses and individual entrepreneurs will be able to showcase their products directly on Swiggy’s own platform. This hints that Minis will be a part of Swiggy, like Instamart, and not a separate platform.
The SoftBank-backed company plans to onboard local electronics and fashion retailers in the first leg of the launch. Given Minis won’t be a hyperlocal service, Swiggy will not use its own delivery fleet but rather the merchant will fulfil Minis’ orders.
With an increased focus on Instamart, the decacorn plans to hit $1 billion in GMV (gross merchandise value) run rate for its grocery delivery arm. Co-founder and CEO, Sriharsha Majety, revealed that its food delivery business has already touched a lifetime high of $3 billion in GMV run rate and contributes 75% of the revenues.
Need we say how excited we are to see things shaping up for Swiggy in the Amazon and Flipkart-dominated arena? Three cheers for the homegrown hero!
Too long? Here’s a one-liner: Swiggy springs into e-commerce action to launch Minis, a marketplace for D2C & small businesses with pilot testing already underway.