Swiggy plans entry into community commerce with Swiggy Bazaar: Sources

Firm plans to leverage group buying model, puts out job postings on LinkedIn and Getwork for the upcoming vertical

Food delivery platform Swiggy is looking at foraging into what it is calling community commerce, a source familiar with the development said.

The firm has put out job postings on LinkedIn and Getwork for the upcoming vertical, web portal Entrackr was the first to report.

“Swiggy Bazaar is our latest foray in the trillion dollar grocery market and will be a community group buying destination,” reads the job description of one of the job roles.

The firm plans to leverage a group buying model, Entrackr reported.

It further says: “Swiggy Bazaar will operate like a startup within Swiggy and promises to be yet another big bet for us in the fast growing online grocery market.”

The company did not immediately respond to a request for comment.

Swiggy already has a quick commerce vertical called Instamart, which focuses on fast deliveries of groceries.

The online grocery market in India is expected to touch $24 billion by 2025, accounting for just three per cent of the total grocery market, according to a report by RedSeer Consulting.

“Over the last year in lockdown, consumers have discovered new ways to access better foods and some of these behaviours have proved to be resilient - creating tailwinds that Bazaar will aim to ride,” the job description reads.

Social commerce platform DealShare uses the community group buying model. Swiggy Bazaar will have a different model from social commerce unicorn Meesho and others in the same category.