Swiggy, an online food, and grocery delivery service, is working on a discovery platform for sellers to list their products. Sellers will be able to display their product categories in the app using this platform.
Buyers will be able to discover things and complete their whole purchasing journey on the Swiggy app. Swiggy, on the other hand, will not transport the products; instead, the sellers will handle the delivery.
Swiggy is presently collaborating with a few direct-to-consumer (D2C) firms for the discovery platform, according to a source. Swiggy is also said to be collaborating with D2C clothing and accessory firms.
“We are continuously experimenting with ways in which we can delight our customers and enable our brand partners to succeed. We’re currently piloting a platform named Minis on Swiggy that enables D2C brands, small businesses, and individual entrepreneurs to showcase their offerings directly to lakhs of customers,” a Swiggy spokesperson said.
This is the first time in Swiggy’s history that it has expanded beyond food and grocery items. While the SoftBank-backed company has taken several steps to expand its goods, including acquisitions, the latest seller platform takes things a step further.
Swiggy has recently signed definitive agreements with Times Internet to buy Dineout, which will compete with Zomato in the dine-in market. Dineout, a platform for eating and online restaurant table reservations, will continue to operate as a separate app.
Swiggy’s loss in FY21 was INR 1,616.9 Cr, a huge 58.7% decrease from INR 3,920.4 Cr in FY20. However, from INR 3,468.1 Cr in FY20 to INR 2,546.9 Cr in FY21, the company’s operating revenue fell to INR 2,546.9 Cr.
The food tech startup joined the coveted decacorn club earlier this year after raising $700 million in a new round of investment headed by Invesco. Since then, the company has increased its focus on Instamart, a rapid commerce platform that
competes with Dunzo, Zepto, Ola Dash, and BB Now.
Furthermore, due to an increase in demand and a shortage of gig workers, Swiggy temporarily suspended its pickup and dropoff service in three major cities earlier this month to focus on its food marketplace and Instamart services.