The South Asian nation is the third largest retail market after China and United States
MUMBAI – In a middle-class suburb of Mumbai, workers at SoftBank-backed Swiggy's grocery warehouse race against time to deliver orders within 10 minutes. Their speed is tracked by the seconds on a screen that flashes red warnings for slowness.
Swiggy warehouses are mushrooming across India to deliver everything from milk and bananas to condoms and roses within minutes – a business model that is reshaping how Indians shop. But the US giants, which offer location-dependent same-day or next-day delivery, are not as fast with groceries as Swiggy and its rivals Zepto and Zomato's Blinkit, which are ushering a "quick commerce" boom.
"We are training our guns to focus on a market much larger than food," a December 2023 confidential Swiggy strategy document seen by Reuters said of its Instamart service.Swiggy did not respond to requests for comment on the document or its broader strategy. Swiggy will even take an order for a single mango, though it could cost about twice as much as walking to a nearby shop.Mumbai lawyer Natasha Kavalakkat, 27, who has a hectic daily schedule, uses quick delivery apps like Swiggy and Zepto to order apples and bread. She said getting juice packs delivered within minutes just before a party was a game-changer.
Swiggy's main rival, Zomato, is India's biggest food delivery business but acquired quick commerce company Blinkit in 2022.
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