Swiggy sees recovery to pre-covid levels in 200 cities2 min read . Updated: 22 Oct 2020, 05:18 PM IST
- The Bengaluru-based food aggregator also said that since the start of the lockdown it has already delivered over 100 million orders, and has seen its pan-India food delivery volumes recover by almost 85%
BENGALURU: Food tech unicorn Swiggy on Thursday said more than 200 cities on its platform have reached 90% of pre-covid order value or gross merchandise value (GMV), with 70 cities seeing full recovery to pre-covid levels.
The Bengaluru-based food aggregator also said that since the start of the lockdown it has delivered over 100 million orders, and has seen its pan-India food delivery volumes recover by almost 85%.
Interestingly, Swiggy says that owing to reverse migration, food delivery volumes for certain Tier 1 and 2 cities including Kolkata, Kochi, Lucknow, Visakhapatnam, Guwahati, Mysore have ramped up their average GMV and performing at 150% of pre-covid levels.
Big food delivery markets such as Bengaluru, Chennai have reached only 80% of pre-covid GMV levels, due to this reverse migration .
On the restaurant side, Swiggy is witnessing more than 7,000 new restaurants being onboarded per month on its platform. Pre-covid the total new restaurants coming on Swiggy stood at 3000, on a monthly basis.
The increase can be attributed to several restaurants logging off food delivery platforms, during the lockdown, owing to staff-crunch, which are now coming back, Swiggy added.
At present, Swiggy has close to 100,000 restaurants on its platform, which stood at 150,000 before the covid-outbreak in the country.
Over the last few months, the food tech major has been working with several restaurant partners helping them to get up on their feet.
Through its - ‘Jumpstart’ best safety practices program; credit to restaurants through ‘Swiggy Capital Assist’; and its ‘Business Booster’ package, Swiggy has supported over 50,000 restaurants to come back on its platform.
Over 1,500 restaurants showed interest to avail loans through Swiggy Capital Assist, primarily to restart their business post lockdown and manage costs of raw materials, employee salaries, etc, the food-tech firm added.
Food tech firms Swiggy and Zomato have been pegging their recovery on the Indian Premier League (IPL) and ongoing festive season. Additionally, these firms have been aggressively running match-discount offers, luring customers to make high ticket value orders, during this IPL season.
“With IPL, people would like to focus on the match and order in food. Hence, we are hinging our hopes on this quarter, to get users back on to Swiggy, as we expect order frequencies to go up. IPL and other festivities could accelerate recovery by a quarter. We are already planning a new advertisement series to restore consumer confidence and will offer new constructs of deals, discounts, and gamification," said Swiggy's chief operating officer, Vivek Sunder to Mint earlier.
Swiggy said that during the ongoing cricketing season, the Tier 2, 3 cities have performed exceptionally well recording a double-digit growth over the first weekend itself.
During this IPL season, Bengaluru, Mumbai, Hyderabad are the most active metro cities while Ahmedabad, Jaipur and Lucknow are the most active tier 2 cities for Swiggy.
Earlier this month, Zomato founder Deepinder Goyal in a series of tweets said that the food delivery volumes in India have reached pre-covid 19 peaks.
“The last few months have been full of shocks and surprises. We salute the hard work of our delivery partners, along with thousands of our restaurant partners who demonstrated great agility in implementing world class safety practices to ensure that our customers stay safe," tweeted Goyal.
Zomato made a total of 92 million orders since the beginning of India’s lockdown, with Goyal predicting the food-delivery sector to grow at 15% month-on-month, moving forward.