Online meal delivery is one among other businesses that have benefited from the pandemic disruption. Business owners looking to become part of the delivery industry can consider the Swiggy business model to develop an engaging and feature-rich food delivery app for their delivery business.
Devoid of restricted and other activities
within the confines of the four walls, customers gorged on the path to
happiness. More and more people feel compatible with the approach of placing
orders online using their smart devices, which otherwise was popular among
millennials and GenZ.
And when it comes to online meal ordering and
delivery, a food delivery app like Swiggy grabs the spotlight. Looking to build
an app similar to Swiggy, then it becomes crucial for you to understand the
Swiggy business model and know-how the delivery giant makes money and works to
satisfy more taste buds right away.
New raise in the market has served more on the
plate to Swiggy, while the company's valuation has reached around $5.5
billion. The delivery segment
has more than 15 million transacting users; however, the number is predicted to
increase and reach around 80 million.
The restaurant or establishments are hitting
upon new business models to survive during the downturn caused by the COVID-19
pandemic. Many vendors are choosing to invest in Swiggy
clone script. And if you're the
one looking for the same for your delivery business, then White Label Fox is
always happy to help you, have a look at our service offering to find the best
for your niche.
What is Swiggy?
India's largest online meal ordering and
delivery platform, Swiggy, was founded in 2014. The company is based in
Bangalore. As of 2021, Swiggy operates in more than 500 Indian cities. In 2019,
the delivery platform extended into general product deliveries as Swiggy
Stores.
Operated by Bundl Technologies Private
Limited, Swiggy, in 2019, started the instant
pickup or dropoff service Swiggy Go. The
service can be used for delivering various items, including picking up &
dropping off laundry, sending lunch, getting forgotten keys, getting documents
delivered from home to office, and more.
Success Story of
Swiggy to Have Insight into!
Swiggy has made it possible for customers to
enjoy doorstep services. They can order hot and fresh meals from various
establishments; the company promises to provide excellent delivery service in a
limited time. Are you wondering how Swiggy got immense success in less time?
Let's look at the success timeline and Swiggy business model to have insight
into the working strategy.
Swiggy is a common name when it comes to
on-demand meal ordering and delivery. Since its launch, it has experienced
significant installations and has worked with more than 1,50,000
restaurants, and has an
influential presence in 325 cities across India. The company has broken all
barriers pertaining to hot meal delivery.
From the old-time when we had to travel,
order, and wait to get our hot meals served at the table, we have grown much,
and all thanks go to an advanced solution similar to Swiggy. Now food lovers
can have their favorite dish delivered at their doors with just a few taps on
their smart device.
Swiggy Business Model
Explained- Check How Delivery Giant Works?
Based on the hyperlocal on-demand delivery
business model, Swiggy acts as a bridge between food lovers and restaurants;
the company utilizes an innovative tech stack that works as a single point of
contact. The easy-to-use app enables urban foodies to order their favorite meal
from local restaurants and get it delivered to their place.
A large option of restaurants and menus with
prices makes it easier to choose and order from. The company also has delivery
partners, who pick up orders from restaurants and deliver them to customers in
less than 20 to 30 minutes. Swiigyy operates on the dual-partnership model,
which benefits customers as well as restaurants.
One of the most crucial things about Swiggy is
that it not only lists food delivery partners but also organizes restaurants
that ensure delivery within 30 minutes. Based on the hyperlocal business model,
Swiggy bridges the gap between food lovers and restaurants. It operates on a
dual partnership model and is responsible for benefiting restaurants.
How Swiggy Makes Money
- Explore the Whole Revenue Model Here!
There are various ways through which Swiggy
earns. Economic
times reports show that the battle for
the top position in the meal delivery market has increased by 93%. It increased
from 205 crores to 397 crores. The rise in expense has made firms increase
efforts to widen their fleet and their services. And if you are looking to earn
more, then have a look at how Swiggy makes money. Presently Swiggy has revenue
streams as below:
Delivery Charges
Swiggy obtains revenue from its customers by
charging a nominal fee on orders they place. The company increases its charge
during peak hours or during unusual weather conditions.
Commissions
Swiggy acquires goods from commissions. The
on-demand delivery platform collects commissions from restaurants to deliver
their meals through its fleet and food delivery platform to generate sales.
Advertising
Swiggy earns advertising revenue in different
ways, including:
- Banner Promotions
- Priority Listing of Restaurants
Swiggy Access
The concept is based on a cloud kitchen, and
Swiggy came up with this facility. Swiggy Access provides ready-to-use space to
its partners in those areas where they do not operate. With the primary need to
bring a meal to customers' doorstep, the company allows customers to set up
their kitchen in a preferred location and let it deliver meals at the fastest
speed.
Swiggy Super
"Swiggy Super" is a membership
program launched by Swiggy for customers. The program provides unlimited free
delivery on orders; customers don't have to pay surge during excessive demands
after subscribing to the program.
Swiggy Go
One of the effective revenue streams of the
leading delivery player, Swiggy, is "Swiggy Go." Launched in 2019, it
offers instant pick and drops service to customers. The company earns a
tremendous amount from this service and helps customers pick, send, and drop
everything from and to different locations anywhere across regions.
Affiliate Income
Swiggy generates revenue by partnering with
different financial institutions such as HSBC, Citibank, and ICICI Bank. The
affiliate income is a new but successful way to generate money and is
beneficial for both parties.
Due to unique functionality and fantastic
customer service, the food delivery giant has received competitive benefits
over other models. It has increased its customer base with its best service
offering. You can even start offering the best ordering and delivery service to
customers with an online food
ordering app developed by
professional developers.
Cost to Build an App
Like Swiggy- Check Here!
With the increase in technology, app
development has become a part of eCommerce. Be it a banking app, food delivery
app, entertainment app, or any other; it's crucial for businesses to get a food
delivery app so their targeted audience can access what they have to serve.
When it comes to app development, many factors determine the cost, these
includes:
- App size;
- Platform selected;
- UI/UX design complexity;
- Technology selected;
- App testing;
- Marketing, etc.
Mobile app development cost is affected by the
features and functionality you choose for your branded solution. However, you
can get it developed at a pocket-friendly price by choosing the right
development partner.
Get Your Food Delivery
App Developed Today!
Swiggy has achieved great success quickly; the
company started with the food delivery and spread its service across the globe.
The delivery giant is diversifying its business with emergency items such as
stationeries and groceries. If you want to walk on the same growth path, then
follow the Swiggy business model for your delivery business.
Swiggy is giving tough competition to other
market leaders like FoodPanda, Zomato, and many more. The company has emerged
as a leading ordering and delivery platform; however, Swiggy business and
revenue model is highly sustainable and innovative. Fast delivery, complemented
with modern techniques like live tracking, comprehensive menu, etc., has made
the life of customers tastier and more straightforward.
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