<ul><li><keyword id="6358977" type="General" weightage="20" keywordseo="swiggy" source="Orion">Swiggy</keyword> has decided to establish <keyword id="12193412" type="General" weightage="20" keywordseo="supr-daily" source="Orion">Supr Daily</keyword> as a separate business unit within its parent company Bundl Technologies.</li><li>It had acquired Supr Daily in 2019 from Puneet Kumar, Rohit Jain and Shreyas Nadgawane, who are now exiting the company.</li><li>The Supr Daily entity will be led by Phani Kishan, who was elevated to the position of Swiggy’s co-founder earlier this year.</li></ul>Grocery deliveries was the obvious next step for Indian food aggregator businesses like <keyword id="830092" type="General" weightage="20" keywordseo="Zomato" source="Orion">Zomato</keyword> and Swiggy, which have reached a maturity stage. Both the companies have laid special emphasis on this sector since the last one year and have made strides in this segment. While Zomato has decided to step away from direct competition in the segment for now, Swiggy has made a move in another direction. The Bengaluru-based startup has decided to establish Supr Daily, daily grocery delivery service of Swiggy, as a separate business unit within its parent company Bundl Technologies Private Limited. It had acquired Supr Daily in 2019 from Puneet Kumar, Rohit Jain and Shreyas Nadgawane, who are now exiting the company. Swiggy follows a similar model for its other units of food delivery, InstaMart, private brands and more. The company believes that establishing a separate entity would allow the leadership to keep a closer eye on the operations and “unlock its full potential”. The Supr Daily entity will be led by Phani Kishan, who was elevated to the position of Swiggy’s co-founder earlier this year. He has previously worked as the vice president of strategy and investments at the food aggregation business. “Phani’s involvement with Supr is not new – as part of the Supr board, he has been working closely with the leadership team on the strategy over the last three years. He’s also been engaged with the team over the last couple of months at an operational level,” Sriharsha Majety, co-founder and chief executive officer (CEO) of Swiggy, said in a<a href="https://blog.swiggy.com/2021/09/28/announcing-new-changes-at-supr-daily/"> blog post</a>. The latest development comes as several media reports have highlighted that Swiggy is in talks to raise $500-600 million from US-based asset manager Invesco and others. This round is expected to mark Swiggy’s entry to the decacorn club. Decacorn, in the startup parlance, are companies valued above $10 billion. Swiggy raised<a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms"> $1.25 billion</a> funding in July 2021, only a few days after Zomato closed its<a href="https://www.businessinsider.in/business/news/zomato-ipo-subscription-status/articleshow/84409991.cms"> $1.3 billion</a> initial public offering (IPO). The Bengaluru-based private company’s round was led by SoftBank and Prosus (formerly known as Naspers). The company, while announcing the funding round, had mentioned that it will use the capital to double down on its core business, make acquisitions and invest in its grocery delivery business Instamart. Zomato had entered the grocery delivery segment last year during the pandemic in order to meet the rising demand for online groceries. The company stepped out of the segment earlier this year, saying that its entry into the groceries vertical last year was just to meet the dean and it will relaunch the operations soon. The company later also invested <a href="https://www.businessinsider.in/business/startups/news/zomato-reportedly-invests-120-million-in-grofers/articleshow/83951631.cms">$100 million </a>in groceries delivery company Grofers to aid this plan. However, it recently decided to <a href="https://www.businessinsider.in/business/news/zomato-co-founder-gaurav-gupta-exits-from-zomato/articleshow/86193568.cms">drop the plan</a> of entering the groceries vertical. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/pine-labs-is-betting-on-these-two-segments-to-make-it-worth-6-billion-dollars/articleshow/86559235.cms">Nearly as old as Google, Pine Labs is betting on these two segments to make it worth $6 billion</a> <a href="https://www.businessinsider.in/business/news/tesla-boss-elon-musk-becomes-the-richest-man-in-the-world-yet-again/slidelist/86552402.cms">Tesla boss Elon Musk becomes the richest man in the world, yet again</a> <a href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a>

Swiggy tightens focus on grocery delivery, as Zomato steps out

<ul><li><keyword id="6358977" type="General" weightage="100" keywordseo="swiggy" source="Orion">Swiggy</keyword> is reportedly working on an e-commerce platform dubbed as <keyword id="425447" type="General" weightage="80" keywordseo="minis" source="Orion">Minis</keyword>.</li><li>Minis will allow local retailers and direct-to-consumer brands to sell their products.</li><li>The company plans to initially onboard electronic and fashion retailers.</li></ul>Food delivery platform Swiggy is looking to expand its services and enter the e-commerce segment with the launch of Minis, a marketplace for local stores. The company had recently <a href="https://www.moneycontrol.com/news/business/swiggy-shuts-down-supr-daily-operations-in-five-cities-citing-losses-8484441.html">shutdown</a> Supr Daily operations in six cities. According to an Economic Times <a href="https://economictimes.indiatimes.com/tech/technology/swiggy-eyes-commerce-play-with-minis-marketplace/articleshow/91795457.cms">report</a>, Swiggy is testing a marketplace model to onboard local stores and direct-to-consumer brands. According to sources familiar with the matter, the company has already started testing the pilot dubbed as Minis. “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,” Swiggy said in a statement to ET. This hints that Minis will be a part of Swiggy, like Instamart and will not be launched as a separate platform. In addition to food deliveries, Swiggy already offers groceries as part of its Instamart service. The company is now looking to offer other products such as electronics, fashion apparels and more. “The idea right now is to onboard local electronics and fashion retailers onto the Swiggy platform,” a source familiar with the matter said. <cmsannotation type="cmsannotation" annotationid="Orders to be fulfilled by merchants" comment="subhead" text="Orders to be fulfilled by merchants">Orders to be fulfilled by merchants</cmsannotation> Unlike food and groceries, Swiggy will not use its delivery fleet to fulfill the orders. Instead, the merchant will be tasked with fulfilling the orders received by them. However, this may change once the platform is commercially rolled out and the number of orders increases significantly. <cmsannotation type="cmsannotation" annotationid="National marketplace" comment="subhead" text="National marketplace">National marketplace</cmsannotation> The Minis platform will be designed as a national marketplace and is not a hyperlocal play like Instamart. “This is not a hyperlocal play. They are building it as a national marketplace looking to enter the e-commerce business now. They are onboarding electronics merchants, too,” a source told ET. It will be interesting to see how the platform shapes up. It will face stiff competition from existing players like Amazon and Flipkart that already dominate the e-commerce market in India. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ambassador-maker-hindustan-motors-looking-to-make-a-comeback-with-electric-vehicles/articleshow/91789649.cms">Ambassador era relic Hindustan Motors looking to make a comeback with electric vehicles</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-posted-a-1222-crore-loss-but-its-stock-gained-18-reasons-behind-the-surge/articleshow/91766080.cms">Zomato posted a ₹1,222 crore loss but its stock gained 18% — reasons behind the surge</a> <a href="https://www.businessinsider.in/india/news/andhra-pradesh-telangana-maharashtra-and-these-states-are-currently-charging-up-to-15-more-than-other-states/articleshow/91744626.cms">These states in India are paying up to ₹15 extra on petrol compared to other states</a>

Swiggy to foray into e-commerce with the launch of Minis — a marketplace for local stores

<ul><li>After the government in states like Maharashtra, Bihar, Tamil Nadu and Delhi instructed schools, colleges and malls to remain shut till March 31, <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> stores like <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> and Supr Daily have seen an upsurge in orders for essentials. </li><li>Online grocery delivery majors have seen an increasing demand for products such as sanitisers, masks, atta &amp; dal, fruits, and vegetables.</li><li>Platforms are also advising customers to avoid using cash, which can be a source of transmitting the virus between individuals. </li></ul>As the number of people infected by Covid-19 keeps increasing with each passing day, there has been an increase in the demand of orders from online grocery stores in the past few days. The government in states like Maharashtra, Bihar, Tamil Nadu and Delhi have instructed schools, colleges and malls to remain shut till March 31. The government is also advising social distancing, with a lot of organisations asking its employees to work from home. The closure of malls, and with it, a lot of supermarkets, has led to a direct increase in the order of staples online. Much like the US and UK, that witnessed a huge surge in online orders for essentials, in India too, a lot of online marketplaces like BigBasket, Future Group and Grofers are witnessing an increase in demand, with most people ordering for staples. Supr Daily, that delivers daily essentials like milk, bread, fruits and vegetables, told its customers that it will deliver till 9 a.m. instead of the usual 7 a.m. due to increased demand. In the past few days, BigBasket has witnessed a 2X increase in its traffic and its revenue. BigBasket said in a statement that they are witnessing a 15-20% increase in the basket value. Increased demand has been for essentials such as staples, atta &amp; dal, fruits, and vegetables. However, it said that it is in control of the supplies, given that a predominant share is from its private label products. The platform is currently not facing any shortage for FMCG branded products except in the case of sanitisers. In the last 30 days, as per Google Trends, there has been a rise in web search for sanitisers. 
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 A spokesperson from the Future Group that owns Big Bazaar and Easyday reported a similar increase in their online orders. "We have seen an upswing in the demand for daily essentials from our customers in certain geographies. We are making sure that we are managing our stocks and supply chain in a way that meets all our customer needs. We are also following and complying with various government/local body directives related to store operations.” While there were a lot of instances of hoarding in the US and UK with a lot of essentials being sold out quickly, most of these platforms haven’t witnessed hoarding yet. BigBasket said, “We are not witnessing hoarding behavior thus far. To our customers, our stance will be not to panic and buy more than what they need. We will gear up for the increased demand and availability of products will not be an issue.” In a note on its website, Grofers asked its consumers to avoid hoarding. “Buy what you need and maybe add some cushioning on top as we will keep working hard to keep items in stock and reasonably priced for all our customers. Excessive buying or multiple orders to bypass inventory limit can lead to order cancellation,” its blog read. Grofers has disinfected its warehouses and is sanitising on a daily basis to keep the inventory virus free. Telling us more about the spike in their business and safety precautions, Albinder Dhindsa, Co-Founder &amp; CEO, Grofers, said, “Over the last couple of days, we have seen customers buying items on our platform in large quantities across cities as well as categories. Mumbai, Bangalore, Pune and Ahmedabad have seen a higher surge with nearly 80% growth followed by Delhi NCR and Hyderabad at a 60% spike in business. We have seen a rise in both the number of orders (45%) as well as order value (18%). Personal hygiene products, followed by floor cleaners have seen a surge in demand along with immunity-boosting products such as chyawanprash and honey. Essential items such as atta, dal and rice are also being bought in large quantities by our customers." Grofers has suspended travel between locations and offices, so each of its 20+ units across the country can stay isolated and clear of the virus. Its supplies are now passing through separate areas, manned by different personnel than those that work in crowds in store. The crates are also being washed and disinfected after every usage. However, a lot of delivery partners are hesitant to come to work. With higher demand and lack of resources, there is a delay in delivery. It is currently 3 days in Delhi and less than 2 days in most other cities. In such a scenario, it is advisable to plan your groceries in advance and avoid dealing in cash as it can be a possible source of transmitting the virus. A spokesperson from Big Basket said that they are working to expedite their product deliveries. “We will face some constraints for a few more days because it takes time to build capacity in terms of storage, delivery fleet and people. Our teams are working hard to streamline this and we will be back on track very soon.” Some platforms have been kind enough to provide essentials at a price lower than its usual market rate. For example, Grofers is selling N95 face masks at Rs 90, when the general market prices are in the range of Rs 450-500.

As malls shut down, online grocery stores in India see a surge in demand

<ul><li>In a difficult year, <keyword id="5968693" type="LOCATION" weightage="20" keywordseo="wavemaker-india">Wavemaker India</keyword>'s performance, according to its CEO, <keyword id="4337750" type="PERSON" weightage="20" keywordseo="ajay-gupte">Ajay Gupte</keyword> has been A+, and understandably so. In a year when many agencies are struggling, <keyword id="3313068" type="PERSON" weightage="20" keywordseo="Wavemaker">Wavemaker</keyword> India has won new businesses worth Rs 700 crore.</li><li>In a conversation with Ad &amp; Media Insider, Gupte discusses the year almost gone by and also looks back at the last 3 years, on the agency's 3rd anniversary.</li></ul>The year 2020 has been a difficult year for not just the advertising industry but the world in general. A recent report by KPMG stated that India’s media and entertainment (M&amp;E) sector will take till 2022 to recover from its current levels. However, there are a few organizations and agencies that took the challenge head on. They innovated, acted with agility and made the most of an otherwise challenging year. It’s been 3 years since GroupM merged its agencies MEC and Maxus into Wavemaker. Since its inception, Wavemaker has been able to win an enviable roster of clients that include <keyword id="6398864" type="PERSON" weightage="20" keywordseo="Mondelez">Mondelez</keyword>, Vi and Mother Dairy, among many others. Moreover, the agency also clocked in new businesses worth Rs 700 crore. Some of the newly won accounts included Sun Pharma, Chumbak, <keyword id="10247458" type="COMPANY" weightage="20" keywordseo="religare-healthcare-insurance">Religare Healthcare Insurance</keyword> (now Care Health Insurance), Lido learning, Glance and Supr Daily. On the agency’s 3rd anniversary, we caught up with Ajay Gupte, CEO – South Asia, Wavemaker who took over the reins after Kartik Sharma moved on from the agency early this year. It’s been an eventful year for both him and the agency and he walks us through all that happened at Wavemaker and how the agency managed to win Rs 700 crore worth of new business in such a tumultuous year. Excerpts: Q) Let's look back at what has been a very difficult year for the world in general. How has Wavemaker fared during this adverse year? Yes, it has been a very difficult year for all of us. The year has been tough on business and on our people. No one has ever experienced being in such a lockdown before, so everyone is trying to grapple with this phenomenon in the best way possible. We’ve made concentrated efforts to take advantage of adversity to accelerate on the journey to achieve our ambitions. In many ways, Covid-19 has brought the future closer. The consumer journey has been altered. Digital plays a much more integral role from brand discovery to purchase. This has enabled us to bring into play the investments we have made in better understanding the consumer journey, in delivering meaningful engagement with the consumer and in effecting purchase. I am hugely proud of the team for showcasing great agility and acclimatizing to the changes. The year wouldn’t have been easy without the support and trust shown by our clients and partners. Despite being such a tough year, Wavemaker India has managed to clock in new business worth Rs 700+ crore. What more could we ask for! Q) You took the reins as the CEO of the agency in one of the most challenging years in recent times. What were your key focus areas and your strategies that helped minimize the impact of the pandemic on the agency's numbers? I do like to look at things positively. Looking back at the year, I think I’ve achieved what I couldn’t otherwise achieve in the normal scheme of life. I was able to meet a large number of our clients (although virtually) within these 6 months. It would have otherwise taken me more than a year to meet our entire client roster. I’ve regularly interacted with our team across the country, which would have been otherwise very difficult, had we to do this in person. So I would say we have been able to make the most of what was dished out to us. As Wavemaker, we believe in investing in capabilities to build tools which will help us and our clients grow. Automation, analytics, data &amp; technology, digital are some of the key areas where we have been investing continuously. These investments have proven effective as 2020 has altered the consumer journey to a large extent. However, we were able to navigate through these changes and offer appropriate solutions to clients to engage with the consumer along their purchase journey. The work we have done in this year has helped us add that much more value to our clients, thereby strengthening our relationship with them. Q) There has been a lot of movement when it comes to the leadership team in Wavemaker. Kishan Kumar MS, Premjeet Sodhi, <keyword id="2932055" type="PERSON" weightage="20" keywordseo="Vishal-Jacob">Vishal Jacob</keyword> and Mac Machiach have taken over key roles. What are your expectations from this power-packed team? You have rightly termed the team as power-packed and I’m quite fortunate to have such a great team. A highly experienced leadership team is the biggest asset of any agency and I am glad we have the best minds leading Wavemaker. The mandate given and expectations are very clear – keep, growing by positively provoking ourselves, our clients and our partners. Investing in the right talent, nurturing the existing talent along with providing cutting edge solutions to our clients to help them grow is the focal point of our business and offerings. The team needs to keep this at the essence of everything they do. Q) Wavemaker completed 3 years. What have some of the agency's biggest milestones been so far? We have had many milestones in this last 3 years. Right from winning Agency of the year in 2018 at Emvies and winning client of the year for Vodafone for 2 consecutive years in 2017 and 2018 at EMVIEs have been one of the most memorable moments for us. We also launched the Content Effectiveness lab with Ogilvy, launched the first-ever influencer marketing offering ‘Thrive’. We created some great analytical tools like Athena, the budget optimizer tool created by our analytics team for L’Oréal which has been highly appreciated by the client and our global teams. Q) Give us a report card for Wavemaker in 2020. How would you rate your performance so far, in terms of new account wins, the quality of work and overall performance? If I have to rate the performance of Wavemaker in 2020, I would rate it A+. We have brought our capabilities in data, analytics, content and Technology to the fore by doing some fantastic work for our clients. Very happy with the way the teams have been able to rally together for our clients bringing in learnings from all over the world and using our tools with insights and recommendations to support our clients in this time. Additionally, winning new business worth Rs 700+ crore in an exceptionally tough year like this has been a phenomenal performance. We’ve bagged new accounts like Sun Pharma, Chumbak, Religare Healthcare Insurance (now Care Health Insurance), Lido learning, Glance, Supr Daily and many more. We have also won the e-commerce mandate for Mondelez. Additionally we’re hoping to hear some more positive news in the last 2 months of 2020. I couldn’t have asked for anything more than this in a year when the world is grappling with challenges and trying to keep business sentiments high. Q) Tell us about some of the work done this year so far that you are proud of. We have been extremely proud of the work we have rolled out in this year. Creating engaging content campaigns for our clients was one of the highlights and we have done it exceptionally well. Some of our noteworthy campaigns are ‘Maa ka Haath Ka Khana’ with the famous stand-up comedian <keyword id="10247459" type="PERSON" weightage="20" keywordseo="zaakir-khan">Zaakir Khan</keyword> for Mother Dairy, Thank You campaign for <keyword id="570619" type="PERSON" weightage="20" keywordseo="Cadbury-Dairy-Milk">Cadbury Dairy Milk</keyword> Silk, Myntra Fashion Super star, Iss Saal Har Ghar Pandal for Gemini Oil to the latest <keyword id="6399124" type="COMPANY" weightage="20" keywordseo="cadbury">Cadbury</keyword> Celebrations to help the local businesses which suffered during the pandemic. Also we are hugely proud of the amazing work done for the launch of Vi! All these great pieces of work have been pulled off successfully while the teams were working remotely. Q) In today's environment, what does it take to become an agency of the future? In today’s VUCA world, it’s difficult to always predict the future but we can prepare for it. 2020 has been a real test of agility and collaboration. Investing in data and technology to deliver effective solutions with the consumer at the centre is key. Also absolutely essential is the investment in automation to ensure that the basics of implementation and reporting are efficient and error-free, allowing talent to focus on brand requirements. Q) The lockdown also led to some great innovations. How have you as an agency innovated in the past 7 months to ensure you have an edge? Our digital and tech teams have been constantly working on devising newer modules for clients that will help them connect better with their consumers. The initial phase of the lockdown got us all thinking and reassessing our business plans and we have sharpened our capabilities in data and analytics and technology. We have implemented several path-breaking innovations for our clients too. One such innovative product we launched for one of our clients was an online platform to allow the client to train and equip their on-ground support team across the country. The product was developed within 10 days and implemented by the client at a lightning speed as that was the need of the hour. Q) As we inch towards 2021, what will your key focus areas be as a leader? Our focus will always be on our clients, our people and our product. We will remain<a name="_GoBack"></a> to build on our capabilities while we will continue to positively provoke ourselves, our clients and our partners. Upskilling our capabilities and training our talent will be a high focus area. We will continue to invest and enhance our capabilities in e-commerce, content, data, analytics, technology and measurement. In early 2020, we announced Positive Provocation as our proposition and backed it with our Operating system which consists of three major aspects – Unlock, Transform and Maximise. We will ensure every Wavemaker is equipped to Positively Provoke our clients to maximise growth.

I would rate Wavemaker's performance in 2020 A+: Ajay Gupte, CEO – South Asia, Wavemaker

<ul><li>Analysts at <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> have revised their estimates for the food delivery segment in India to say that profitability is now closer by a year for these startups. </li><li>The two foodtech unicorns – <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> – are neck to neck in competition and both claim a market share of at least 55% in India’s food delivery segment. </li><li>For Deepinder Goyal-led Zomato an IPO is on the cards.</li></ul>India’s food delivery market is dominated by two players – Zomato and Swiggy. The two foodtech unicorns are neck-to-neck in competition and both claim a market share of at least 55% in India’s food delivery segment, as per Goldman Sachs analysts. With the competition majorly centered around the two unicorns and <keyword id="7083350" type="UNKNOWN" weightage="20" keywordseo="food-delivery-in-India">food delivery in India</keyword> witnessing a V-shaped recovery, analysts at Goldman Sachs have revised their estimates for the segment to say that profitability is now closer by a year for these startups. “We turn incrementally more constructive on this space, and now forecast the segment to reach US$9.8 bn in GTV (gross transaction value) by FY25E, vs US$8.8 bn earlier. In addition, we forecast EBITDA proﬁtability for the segment in FY22, vs FY23 earlier,” said a Goldman Sachs report on the Indian internet economy released on November 2. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Presence </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 cities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 cities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">App downloads </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orders per day </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds raised </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.6 bn </td></tr></tbody></table>Source: Goldman Sachs report on India Internet businesses Zomato: Break-even close, an IPO closer For Deepinder Goyal-led Zomato an IPO is on the cards. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/zomato-plans-to-file-for-ipo-in-first-half-of-2021/articleshow/78041305.cms">reports</a>, Zomato CEO Goyal in an email to his employees said that the company is looking to list publicly in the first half of 2021. By September 2020, the company said its food delivery orders had reached pre-COVID levels and the transaction value per order was increasing. “With more premium restaurants, i.e. restaurants where a meal for two may cost ₹1500 and above, now opening up to online delivery, a larger number of affluent consumers are embracing online ordering. Overall spends on such premium restaurants have grown by over 25% over pre-COVID levels,” wrote <a href="https://www.zomato.com/blog/mid-covid-report-2">Goyal in </a>a blog. While this order value has been increasing, the company has been cutting costs. It laid off 1,300 employees in the beginning of the pandemic, announced permanent work from home and cut down real estate costs. All of this has helped the company’s unit economics. “While COVID-19 has impacted the size of our business, it has accelerated our journey to profitability,” wrote Goyal in a blog in July. However, the Goldman Sachs report quoted Zomato to say that the company has reached EBITDA (earnings before interest, taxes, depreciation, and amortization) profitability for its food delivery business. “Zomato mentioned it is now proﬁtable at the EBITDA level in the food delivery business (was burning c.US$40 mn of cash a month 15 months ago, but is now generating US$3-4 mn of proﬁts,” said the report. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato’s financials </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> $192 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$277 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$394 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$293 million </td></tr></tbody></table> Swiggy: Betting on hyperlocal Bengaluru-based Swiggy has been moving beyond food delivery. Over the years, Swiggy has expanded to grocery (a segment Zomato plans to leave soon) with Swiggy Stores, hyperlocal delivery service called Swiggy genie, and also launched its own dairy service called Supr Daily. In a recent announcement, Swiggy had said that it had reached 80-85% of its pre-COVID levels in terms of food delivery. On Tuesday (November 10), Swiggy announced that during IPL alone its food delivery orders had risen by 30% from the months before. For Swiggy too, its average order value has been increasing. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy average order value </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Currently </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pre-COVID </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4 </td></tr></tbody></table>Source: Goldman Sachs report “Swiggy expects to be EBITDA positive by early 2021 for food delivery, but will continue to invest in other business in the near term,” said the report. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy’s financials </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$152 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$318 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$59.5 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$53.5 million </td></tr></tbody></table>Source: <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-parents-losses-mount-5x-to-rs-2363-crore/articleshow/72726255.cms">media reports</a> Swiggy hasn’t released its FY20 numbers. SEE ALSO: <a href="https://www.businessinsider.in/business/news/interview-indiamart-founder-dinesh-agarwal-responds-to-the-incoming-challenge-from-jd-mart/articleshow/79149842.cms">INTERVIEW: IndiaMart founder Dinesh Agarwal responds to the incoming challenge from JD Mart</a>

Zomato and Swiggy have never been this close to making profit, say Goldman Sachs analysts

<ul><li>As consumers started cooking or baking more evolved, gourmet dishes at home during the lockdown, <keyword id="9613152" type="COMPANY" weightage="20" keywordseo="britannia-cheese">Britannia Cheese</keyword> witnessed an increase in its demand. </li><li>We caught up with <keyword id="917197" type="PERSON" weightage="20" keywordseo="Gunjan-Shah">Gunjan Shah</keyword>, CCO, <keyword id="146218" type="COMPANY" weightage="20" keywordseo="Britannia-Industries">Britannia Industries</keyword> to understand if the brand has been able to retain the demand it saw in the beginning and how it has changed its marketing strategy in the unlocking period. </li><li>He also told us how the company transformed its business digitally during the lockdown and all about its biggest digital campaign, Britannia Cheese StarChef starring Saif Ali Khan, that brought in the highest growth for the brand till date. </li></ul>With the pandemic-induced lockdown, consumers started brushing up their cooking or baking skills and eating became more of a family exercise. It brought out people’s hidden talent for cooking, especially among the urban masses, which they were exploring only now, thanks to them staying at home and not having to travel to work everyday. In April, recipe searches also surged on the internet, as people began experimenting with a variety of cuisines ranging from the easy to the complex, gourmet varieties. Cheese became one of the ‘star ingredients.’ Britannia Cheese was quick to recognise this opportunity and it amped up its digital marketing strategy to latch onto the increasing demand for cheese, which became an integral part of consumers’ grocery list -- providing a huge impetus for the growth of the category. As a result, cheese became one of the highest growing food categories during the lockdown. As per Nielsen’s report on COVID-19 Impact on FMCG &amp; Retail, the cheese category saw a 60% growth. The report also highlighted how the rapidly evolving preference of urban consumers includes cheese as part of the monthly shopping cart. <div type="image" title="cheese trend" msid="78258099" hostid="261"></div>(Source: Nielsen RMS) Britannia Cheese saw 300% of its business coming from E-commerce during April to August. To leverage this demand, Britannia executed a three-way plan. Elaborating on the company’s digital plan, Gunjan Shah, CCO, Britannia Industries, said, “We provided ease of discoverability and convenience to new users on key ecommerce platforms like BigBasket by creating Britannia Cheese Brand stores on the home pages for an extended shop-in-shop experience. Secondly, we have tied up with several subscription-based e-commerce platforms like Milkbasket and Supr Daily, which provide daily essentials delivery services across all major metros. This helped us recruit new users, gain consumer retention and increase stickiness by incentivizing purchase frequency. Thirdly, to strengthen the last-mile delivery, we have also entered into partnerships with portals like Dunzo, Swiggy and Zomato which provide superior hyper local grocery delivery services.” Star campaign on digital mediums To become a part of people’s daily meals, Britannia Cheese launched a digital campaign with Saif Ali Khan called Britannia Cheese StarChef. The show transforms Khan into a StarChef as he learns to cook from MasterChef winner Shipra Khanna. It targeted newbie cooks and keen learners and provided easy-to-cook recipes. Sharing the insight behind the campaign, Shah said, “The dramatic rise in in-home cooking since the outbreak of the pandemic, was the key trend that informed the making of the show. We worked on the insight that every home chef is looking for extraordinary dishes that makes her a star in the kitchen! And Cheese is the magical ingredient that has the power to help make those dishes. The adage ‘Life is great, Cheese makes it better!’quite sums up the universal love for cheese. The Britannia Cheese StarChef show hones in on Cheese as that special, star ingredient that turns a good dish into a dish extraordinaire.” It soon became the company's best performing digital campaign. Shah said, “The Campaign was significant on two fronts- first, it is the largest single brand Digital Campaign that Britannia has ever embarked upon and second it has performed the best in terms of the metrics that we track for our digital investments. The Click throughs achieved on our promos have been between 200-250% of the industry benchmarks and the campaign has helped drive a significant spike in growth for Britannia Cheese Year till date. The overwhelming response to the campaign made us take it to mainstream TV media towards the end of August.” Altering marketing strategy with changing times The lockdown period proved to be challenging for companies across business verticals in India. There was no rulebook in place for an unprecedented situation such as a pandemic. However, Britannia Cheese understood the magnitude of the situation. To seize the opportunity, it altered its strategies and concentrated on achieving short-term goals. Sharing how the company responded to lockdown, Shah said, “First and foremost, we responded quickly to the changing consumer preferences by keeping our ears on the ground. The Britannia Dairy Team reached out to over 500 retailers in the first month of the lockdown, analyzed the demand-supply situation and the swiftly emerging consumer trends. Anticipating a rapid uptick in cheese consumption, we worked with our manufacturers to ramp up supply by removing bottlenecks and increasing the supply of the fastest moving formats like Cheese Slices, Cubes, Blocks and ‘Cheezza’. Secondly, on the field, we focused on Pareto outlets to ensure that we get a massive increase in throughput from the same stores. We also mapped geographies displaying a huge shift in consumer awareness and adoption to increase our width and depth of distribution of cheese, in the process leading to a sustained growth in our cheese business and growing revenue from E-commerce by over 300% (Apr-Aug’20).” Changing consumer preferences after lockdown Globally, more than <a href="https://www.marketresearchreports.com/blog/2020/07/07/cheese-market-india-leading-players-industry">3,000</a> varieties of cheese are available for consumption, whereas only about 30 to 40 variants are marketed in India. With the changing preference, this presents a huge opportunity for global and local players to grow in the country. As we start entering the unlock phases, the consumer is demanding a range of products to experiment with. Britannia Cheese is also working on expanding its portfolio to meet this demand. “We have put the focus on new outlets and towns and will scale up both range and depth to ensure that we are ahead of the curve, while continuing to tap the potential of e-commerce platforms. Driving availability of even smaller SKUs like Spreads and Cream Cheese is becoming more important and hence, Britannia is driving the width of availability,” said Shah. “The extended stay-at-home period has led to consumers learning how to use the many available cheese formats for the first time. This has led to inorganic business growth in new stores and new towns. Post unlock phase, it’s imperative for us to nurture these stores and towns through loyalty programs, tracking and monitoring,” added Shah. On the brand’s unlocking strategy, Shah said, “With demand stabilizing, the market is again becoming competitive and hence there is a need to increase investment in the ATL and BTL space. We have now taken Britannia Cheese StarChef content on to TV which still delivers the widest reach for us. We have also increased our in –store investment.” Britannia’s focus is going to be on staying agile and invested in making the most out of the behavioral shifts and macro consumer trends. Vision for the brand Britannia is currently the second-largest player in the Rs 850+ crore Indian retail cheese category. Even post-COVID, it aims to be the consumers’ most preferred ally for culinary experimentation. “We will continue to build preference for Britannia Cheese. In the past few years, a lot of consumers have made us an integral part of their cooking forays and celebrations. We value this and are committed to stay invested with a unique positioning and taste delivery, peerless quality and easy accessibility. We aim to build an ever-expanding consumer franchise firmly rooted in their passion point of cooking,” said Shah.

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