Swiggy Merges Mall Offering With QCommerce Platform Instamart

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SUMMARY

Swiggy sells a wide range of non-grocery items like footwear and electronics items via Swiggy Mall, which is currently operational in parts of Bengaluru

Instamart is currently present in over 25 cities, which would allow Swiggy Mall to scale up in the coming months

Last month, the IPO-bound company, which recently turned into a public limited entity, merged its premium grocery vertical InsanelyGood with Instamart

IPO-bound swiggy is integrating Swiggy Mall, under which it sells a wide range of non-grocery items like footwear and electronics items, with its quick commerce offering, Instamart.

“Given the tremendous customer love shown for Swiggy Mall’s wider and deeper assortment of categories, including sports goods, footwear, clothing, electronics, electric appliances, toys, stationery etc, the integration will further broaden the choice for consumers, who are showing an increasing predilection to purchase products other than groceries and staples from Swiggy Instamart,” Swiggy said in a statement on Thursday (April 18).

Swiggy Mall is currently operational in parts of Bengaluru.

The development comes just a month after Swiggy merged its premium grocery vertical InsanelyGood with Instamart

Speaking on Swiggy Mall’s integration with Instamart, Phani Kishan, head of Swiggy Instamart, said that the quick commerce platform is broadening its offerings to include a wider array of products. 

“With our latest update, customers can now explore an extensive selection across 35+ categories, that go way beyond groceries and home essentials, delivered in minutes. This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before,” Kishan said.

Food delivery giant Swiggy entered the quick commerce category in 2020 with the launch of Swiggy Instamart. With Swiggy Mall launched last year, the company also forayed into online retail, delivering a wider range of home and family shopping needs compared to its existing quick commerce platforms. 

Instamart is currently present in over 25 cities, which would allow Swiggy Mall to scale up in the coming months, starting with Bengaluru. 

Swiggy said in its statement that consumers in more cities will now have access to brands including HP, Croma, Liberty Footwear, Realme, Puma, Enamor, La Opala, and products such as keyboards, headphones, vacuum cleaners, coolers, cookers, AC blankets, and more with Mall and Instamart integration.

Meanwhile, Swiggy recently turned into a public company ahead of its IPO, changing its registered name from ‘Swiggy Private Limited’ to ’Swiggy Limited’.

In FY23, Swiggy posted a net loss of INR 4,179.3 Cr, which widened 15% from INR 3,628.9 Cr in the previous fiscal year. Inc42 recently reported that the decacorn was on track to report about INR 10K Cr in revenue for FY24, helped by the surge in Instamart orders, platform fees related to food delivery, and growing traction for dining out business.




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Swiggy Merges Mall Offering With QCommerce Platform Instamart

SUMMARY

Swiggy sells a wide range of non-grocery items like footwear and electronics items via Swiggy Mall, which is currently operational in parts of Bengaluru

Instamart is currently present in over 25 cities, which would allow Swiggy Mall to scale up in the coming months

Last month, the IPO-bound company, which recently turned into a public limited entity, merged its premium grocery vertical InsanelyGood with Instamart

IPO-bound swiggy is integrating Swiggy Mall, under which it sells a wide range of non-grocery items like footwear and electronics items, with its quick commerce offering, Instamart.

“Given the tremendous customer love shown for Swiggy Mall’s wider and deeper assortment of categories, including sports goods, footwear, clothing, electronics, electric appliances, toys, stationery etc, the integration will further broaden the choice for consumers, who are showing an increasing predilection to purchase products other than groceries and staples from Swiggy Instamart,” Swiggy said in a statement on Thursday (April 18).

Swiggy Mall is currently operational in parts of Bengaluru.

The development comes just a month after Swiggy merged its premium grocery vertical InsanelyGood with Instamart

Speaking on Swiggy Mall’s integration with Instamart, Phani Kishan, head of Swiggy Instamart, said that the quick commerce platform is broadening its offerings to include a wider array of products. 

“With our latest update, customers can now explore an extensive selection across 35+ categories, that go way beyond groceries and home essentials, delivered in minutes. This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before,” Kishan said.

Food delivery giant Swiggy entered the quick commerce category in 2020 with the launch of Swiggy Instamart. With Swiggy Mall launched last year, the company also forayed into online retail, delivering a wider range of home and family shopping needs compared to its existing quick commerce platforms. 

Instamart is currently present in over 25 cities, which would allow Swiggy Mall to scale up in the coming months, starting with Bengaluru. 

Swiggy said in its statement that consumers in more cities will now have access to brands including HP, Croma, Liberty Footwear, Realme, Puma, Enamor, La Opala, and products such as keyboards, headphones, vacuum cleaners, coolers, cookers, AC blankets, and more with Mall and Instamart integration.

Meanwhile, Swiggy recently turned into a public company ahead of its IPO, changing its registered name from ‘Swiggy Private Limited’ to ’Swiggy Limited’.

In FY23, Swiggy posted a net loss of INR 4,179.3 Cr, which widened 15% from INR 3,628.9 Cr in the previous fiscal year. Inc42 recently reported that the decacorn was on track to report about INR 10K Cr in revenue for FY24, helped by the surge in Instamart orders, platform fees related to food delivery, and growing traction for dining out business.




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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