Skip to main content

Swiggy Shuts Down Homestyle Food Ordering App Swiggy Daily

 


Swiggy’s experiment with subscription-based daily home-cooked food via a separate app has come to an end. The company had pulled the plug on Swiggy Daily that it had launched in May last year, said two sources aware of the development.

“Swiggy Daily had ceased operations a couple of months ago in the wake of weak demand,” said one of the sources on condition of anonymity. “The app never got decent traction and its demand further plummeted because of the closure of offices and educational institutions.”

Swiggy Daily was largely targeted at users who look for healthy home-cooked food at an affordable price point. It allowed users to choose three days to a month-long subscription. The app got encouraging traction when it launched in Gurugram and Bengaluru. Swiggy Daily used to come with the option to swap, skip and pause it at any point of time.

This is the first rollback by the Naspers-backed company this year. It also withdrew Swiggy Super that waives off delivery and other convenience fees for a two month period (May and June). In July, Swiggy Super subscription was resumed, but with an option of a monthly subscription only.

It’s worth noting that the company had downscaled its cloud-kitchen vertical and laid off 1,100 staff to cut cost and extend the runway. Swiggy’s chief executive Sriharsha Majety also mentioned that the company will reduce or relook on initiatives that will have lower activity because of Covid. 

“At Swiggy, we are constantly experimenting with innovative ways to meet changing consumer needs, and Daily was one such initiative. We back burned it given the pandemic and other strategic priorities, but it continues to remain on our radar,” said a Swiggy Spokesperson in a response Entrackr queries.

“The withdrawal of Swiggy Daily is because people are still avoiding consuming outside meals. The company may relaunch it within the native app when time is right for them,” added the second source. The person also wished not to be named.

The shutdown of Swiggy Daily appears to be a logical move since there is not a significant demand for such a product. Its rival Zomato has been scaling down its grocery delivery service Zomato Market to focus on its core business proposition.

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

Popular posts from this blog

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