Indian food delivery giant Swiggy said on Friday it has started delivering meals within 10 minutes in some major cities, intensifying quick commerce competition in the world's second-largest internet market.
The Bangalore-headquartered startup aims to go public in about a month and has partnered with more than 2,700 restaurants, including global chains KFC, McDonald's and Starbucks, to provide customers with meals within 10 minutes. He said it could be delivered to.
The service, called “Bolt,” focuses on ready-to-prepare products and serves customers within a 2-kilometre radius. Rohit Kapur, head of food delivery at Swiggy, said the service aims to reduce waiting times for frequently ordered items such as coffee, burgers and biryani.
“Ten years ago, Swiggy revolutionized food delivery by reducing average wait times to 30 minutes. Now, we are reducing wait times even further for frequently ordered items,” he said in a statement. Ta.
Swiggy, which competes with listed Zomato, said Bolt is active in key locations in Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai and Pune.
The launch will intensify competition in India's fast-growing quick commerce market, which has grown more than 100% in a year. Zomato's Blinkit, Instamart (Swiggy's quick commerce service), StepStone-backed Zepto and Tata-owned BigBasket are changing the way millions of Indians shop, offering instant gratification with an ever-expanding range of products. We are training consumers to expect it.
Some analysts say quick-commerce companies are starting to take business away from e-commerce giants. Flipkart recently launched its own quick commerce service.
Swiggy, which delivers to millions of customers in 600 cities every month, says its delivery partners are not informed about the distinction between Bolt and regular orders, resulting in penalties or penalties depending on the timing of Bolt orders. He said he would not receive any incentives.