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Zomato leads in food delivery space with 21 million monthly order run rate

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Zomato leads in food delivery space with 21 million monthly order run rate

India’s food delivery space is continuously growing. Day by Day, competition between the two most popular food delivery startups, Zomato and Swiggy is increasing. Both are fighting to gain more market share.

Zomato, popular restaurant search, and delivery startup claimed that it has reached 21 million monthly order run rate in India in September 2018. The firm indicates that highest deliver order volume during the month reached 7,00,000 orders each day of the week.

With this record, Zomato claims to become the market leader in the food delivery space in India.

Deepinder Goyal, who is the co-founder and CEO of Zomato said, “At the beginning of 2018, we were at 3.5 million orders a month. With 21 million orders per month, as far as we know, we are now the market leader in the food ordering space in India.”

Previously in a blog post in August 2017, Zomato mentioned that it has reached about 3 million users per month. Out of 21 million orders per month, Zomato said that 2 million orders are coming from phone every month.

Please note this, order rate is not the absolute order volume of the firm. Order run rate supports the project’s future order volume of the month and is anticipated depending on one week’s volume.

Also Read: Indian IT Industry revenue will reach $167 billion in financial year 2018-19

For all users who don’t know, Swiggy makes around 20 million deliveries per month. It is important to consider that Swiggy hasn’t provided any details about monthly volume since last few months.

“We were present in 15 cities in India, at the onset of this year; our food delivery business is now active in 38 cities in India. And at the pace we are going, it’s only a matter of time before we launch our food delivery business in 100 cities,” said Goyal in the blog post.

According to the absolute volumes, Zomato may be following Swiggy, its growth in the online ordering business is increasing simultaneously with the vertical becoming the largest for Zomato, now generating 65% of its overall revenues as compared to 35% it formed as of January 2018, Goyal said.

Around 86% of the orders are now fulfilled by Zomato’ own logistics with the help of 74,000 delivery agents. Earlier in January, the firm consists of only 5,000 delivery boys.

“Our annualized GMV presently stands at $1 billion compared to $210 million in January,” says Goyal in the blogpost.

Lately, Zomato has released its loyalty programme available for customers for free, similar to how swingy launched its Swiggy super on a mass scale. The firm is also thinking to launch its own digital payment solutions and mobile wallet.

Also Read: Cabinet approves MoU between India and Russia for MSME Cooperation

Online Food Industry is facing a tough competition between Zomato, Swiggy, Foodpanda, and UberEats. Apart from providing heavy discounts to the customers, they pay between Rs 100 to Rs 120 for a single delivery.

From this, all of them are fighting hard to win the food delivery space. But, they are not much concerned as they have raised sufficient capital. Earlier, Swiggy and Zomato raised $500 million conjointly. Now, both the firms are planning to raise a large capital.

Food Industry

Foodpanda to seize 2 lakh sq ft working space in Delhi

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Foodpanda to seize 2 lakh sq ft working space in Delhi

Foodpanda, one of the biggest food-delivery startup in India is going to sign-up two lakh sq ft of co-working space in Delhi. Foodpanda opts for flexible space in order to reduce realty costs and technology, however also getting a personalized workspace which focuses on the growth of the firm.

Sundeep Singh, chief evangelist and CEO of work, said, “In the first phase, Foodpanda has taken 2,000 seats in GoWork’s 108 Udyog Vihar, Gurugram campus under the ‘built to suit’ enterprise format, with an option to expand it to 4,000 seats”.

Foodpanda is planning to expand its market share in the food delivery segment. Hence, it will utilize the space as a call centre, rider care and for chat divisions. Foodpanda also said that it has crossed the 3 lakh delivery mark last month due to its discounts and incentives schemes which the firm rolled out. Foodpanda is one of the most popular and trusted brands in the food-tech delivery platform, and having it onboard as a client offers a strong boost to the brand’s value proposition.

Also Read: PSB instructed to fix one-hour loan products for MSMEs

GoWork’s first facility is spread around 4.5 lakh square feet and space for around 7,000 people. The second unit is spread across 3.5 lakh feet and has a capacity of 5,000 seats. The firm has lately added 13 cities in its network and plans to hire about 125,000 delivery riders in the upcoming two months to offer steady delivery experience.

Foodpanda and GoWork’s contract was being settled out by Co-Founder of Dhara Realtech, Manish Beniwal. Foodpanda has not given any comment about the whole story. Various startups have already shifted to co-working spaces because of low-cost and flexibility. As per resources, around a million Sq. ft. is being captured by the co-working firms across different markets in India. With the continuous increase in the office rents, the total space covered by the co-working firms in tier-1 and tier-2 cities can reach 6-10 million sq. foot by 2020.

Also Read: No relief from higher fuel prices despite rate cut

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Food Industry

Walmart Foundation to invest Rs 180 crore to improve farmers’ livelihood

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Walmart Foundation to invest Rs 180 crore to improve farmers' livelihood

As part of its move to support sustainable livelihood for farmers in India, the Walmart Foundation Thursday declared an investment of Rs 180 crore over the upcoming five years in the country.

Judith McKenna, Walmart International CEO said, “We’re pleased to help create more opportunities for smallholder farmers in India through Walmart’s strengthened commitment to local sourcing and the Walmart Foundation’s $25 million investment to support local farmer producer organisations.”

Apart from this, Walmart India is attempting to grow its direct sourcing from farmers to 25% of produce sold in its “Cash & Carry” in the same interval of time, to provide more income to them and remove the role of the middleman. Also, it wants to speed up the market access improvements and reduce the transportation costs for producers, the firm said in one statement.

On the basis of commitment to smallholder farmers in the country, she said farmers are the pillar of the Indian economy, with over 50% of the total workforce employed in the sector.

Their main purpose is to support the efforts of the NDA government at the centre to enhance food security in the country and raise the overall economy and to fulfill the ambitious goal to double farmers’ income by 2022.

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The new funds will be utilized to help farmer organization to gain knowledge of appropriate farming practices, share business best practices, add value to main agricultural commodities and provide more access to finance and markets.

The Walmart Foundation will work closely with the non-government organizations to assist farmer producer groups and build best practices and demonstration sites that are shared across India.

Their main purpose is to mainly authorize multiple farmer organizations and connect them into the nationwide farmer-support network.

As per McKenna, providing farmers with opportunities to learn and increase their access to markets have great benefits for commodities and consumers.

Farmers’ incomes can increase and they can originate new business opportunities for local entrepreneurs and help improve access to high-quality produce in their villages and beyond. All of this adds up to a stronger supply chain, stronger local businesses and better lives for smallholder farmers and their families,” Walmart CEO said.

Walmart sources 95% of the goods sold in its Best Price Cash & Carry stores in India from local companies and provides technical support and training programmes to enhance farming efficiency.

Also Read: India, Morocco sign contract to expand collaboration in MSME sector

In order to expand its reach in the country, Walmart last month completed the acquisition stake of 77% in e-commerce giant Flipkart for

Walmart consists of stores in 28 Countries, providing employment to 2.3 million people and doing business with huge numbers of suppliers, which in turn employ millions of people.

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Food Industry

Cabinet may launch Operation Green Scheme on Wednesday

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Cabinet may launch Operation Green Scheme on Wednesday

Cabinet may certainly consider Wednesday a proposal to launch a new scheme “Operation Green” said Food Processing Minister Harsimrat Kaur Badal on Tuesday.

It will have a corpus of Rs 500 crore to aid farmers in times of erratic price fluctuation in tomatoes, onions, and potatoes.

Another cabinet proposal is to set up a non-banking financial company (NBFC) is anticipated to be taken up in the next week, she said. NBFC might have an initial collection of Rs 2,000 crore to meet the credit needs of the food processing sector is anticipated to be taken up in the next week, she added.

“We are seeking cabinet approval for two schemes. I feel the TOP (tomatoes, onions, and potatoes) scheme may be taken up in the tomorrow’s cabinet meeting. The NBFC proposal may come up next week,” Badal stated on the sidelines of the event.

The Operation Green or the TOP Scheme is an effective scheme which is declared in this year’s Budget, will be incorporated on a pilot basis for the upcoming two years.

Providing more details, Badal while addressing in the event stated that the TOP Scheme is developed to look after three procuce mainly tomatoes, onions, and potatoes. Three clusters of each and every produce have been recognized.

The clusters will be connected to the markets. The State Government is also helping to set up clusters. The subsidy will be provided for developing storage facility near the consumption centres.

Also Read: India’s oil demand to reach 500 million tonnes per year by 2040

The main goal is to shift the produce to a consumption base during glut and before the prices fall and have an impact on farmers income, she said.

The Operation Green focuses to facilitate farmer producers organizations, agri-logistics, processing facilities, and professional management.

According to the concerns of planned NBFC, the minister said, “We are in the final stage of the proposal and it will come most probably in next cabinet meeting.”

“We will roll out our own financial institution which will not only lend to food processing sector but will also work in different ways in capacity building, in risk assessment and senstising the banks.”

The planned NBFC will be developed with an initial corpus of Rs 2,000 crore and the government will invest Rs 400 crore in it, she stated. Also. partners will also join the plan via a bidding process.

NDA Government is putting great efforts on food processing sector due to which the level of food wastage has been reduced to 8%. This occurred because NDA has taken stick steps in the last four years.

Also Read: L&T Technology Services wins $40M deal in Europe

Mega food parks, backward and forward linkages, and clusters are being developed under the Rs 6,000 crore Pradhan Mantri SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) Yojana, she said. )

Until now, 15 mega food parks have been developed and are functional. Also, 280 cold chains are already being developed and 60% of them have started their operations. In future, 50 more cold chains are going to be added, the minister said.

“When our food security is under threat, that’s when cold chain and the storage facilities play a crucial role to ensure not only prices stay under control but there is enough food supply despite the erratic climate change”, said food processing minister.

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