Consumers, Especially with a fast-paced urban lifestyle needs everything at their doorstep. As they don’t have that much time to go to the store & get the things. So they prefer the services which will provide them at their place. They can subscribe it for weekly, monthly or quarterly delivery at one time, as some vendors provide some offers for this kind of subscription. Daily needs like milk, bread or eggs etc. or some other non-milk products like fruits, vegetables, staples are in demand now a days.
Swiggy invested $100 million for these kind of subscription based delivery business under Supr, which delivers milk and other daily essentials to consumers. The Unit is already doing more than 1 lakh deliveries per day in six cities including Bengaluru, Mumbai & Delhi-NCR.
Shreyas Nagadawane & Puneet Kumar, who started the company in 2015 are leading the business after the acquisition by swiggy. As it has an online food delivery, development comes for that & also forayed into hyper-local delivery business under swiggy stores & subscription based home-cooked meal with swiggy daily. It aims to drive a higher frequency of orders, leverage its growing logistics network as well as the brand built on food delivery.
As per the TOI report of June 2019 swiggy had raised $1 billion in December last year & is in the process of raising another $500-600 million. Swiggy considers spaces from vertical players like Milkbasket & Daily Ninja, along with horizontal players like BigBasket to serve better. Swiggy belived to have grown its monthly user base by 1 times to about 1,50,000 in last 6 months.
Swiggy has also made in-roads in rural markets on the convenience of customers there. As they have low budget, swiggy serves them by bringing down its delivery costs.
According to sagar Yarnalkar, co-founder & CEO of Dailyninja, which competes against Supr, the overall market at present sees 2,70,000-3,00,000 orders per day. DailyNinja raised an undisclosed amount of funding led by Matrix Partners in September last year. These startups see an average order size of Rs. 70-90 per day since the focus is on milk primarily. Milkbasket also raised $26 million from Unilever Ventures & Kalaari Capital. In-short we can try this strategies to increase our business too.
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