Food delivery Industry's GMV At 85% of Pre-Covid Levels, Says Zomato

The food delivery industry has shown strong signs of recovery, clocking 85 per cent of pre-Covid gross merchandise value (GMV), according to a report by food delivery and restaurant discovery firm Zomato.

Delhi and Mumbai are nearing full recovery (95 per cent of pre-Covid), while metros such as Bengaluru, Hyderabad, and Chennai are still behind the curve (nearly 80% of pre-Covid). Some cities such as Kolkata, Patna, Jamshedpur, Ranchi, and Siliguri have recovered completely and have exceeded pre-Covid levels, said the Gurugram-based startup in its 'Mid Covid-19 report II'.

"With the ongoing IPL season and the subsequent festive season, we expect food delivery in both metros and smaller cities to make a full recovery soon – and resume growing over pre-Covid levels," said Deepinder Goyal, chief executive officer, Zomato in a blogpost on Wednesday.

The development comes after the company, in August, said around 40 per cent of the dining out restaurants may not reopen at all owing to the disruption caused by the Covid-19 pandemic.

Festivals and occasions such as Raksha Bandhan, Janmashtami, Teacher’s Day, and Independence Day saw a massive spike in orders with celebrations moving back home due to lockdown restrictions, the company said. "Customers, who had not ordered since the first day of lockdown, are 20 per cent more likely to order for the first time during such festivals and occasions."

Zomato also witnessed a larger number of affluent consumers embracing online ordering with more premium restaurants (where a meal for two may cost Rs 1500 and above) now opening up to online delivery. "Overall spends on such premium restaurants have grown by over 25 per cent over pre-Covid levels, the company said.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to working conditions for their gig workers , according to a report released Wednesday. While Swiggy , Zomato and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings 2020: Labour Standards in the Platform Economy’ showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in last year's report. According t

Abhishek Securities

Search This Blog