IPL playing key role in recovery of food delivery firms Swiggy, Zomato

Analysts say that due to IPL event food delivery volumes are seeing a jump and foodtech companies are capitalising on that demand

Peerzada Abrar Bengaluru
online food order, online food delivery

India’s total online food delivery gross merchandise value (GMV) is expected to be $13 billion by 2024 by clocking 12 million daily orders on an average, according to a report by RedSeer.

After Zomato’s food delivery volumes touched pre-Covid-19 peaks, Swiggy said that overall, the food delivery business has recovered about 80-85 per cent of the pre-Covid order values. The recovery is taking place after multiple rounds of unlocks, as restaurants open up for business.
Over 100 million orders have been placed on the Swiggy app for food, groceries, medicines and other household items since the lockdown. Almost over 200 cities have reached 90 per cent of their pre-Covid GMV (gross merchandise value) levels with more than 70 cities seeing a full recovery. 
“In fact, they have seen double-digit growth over the past 4-5 weeks, especially when the lockdown opened and when consumer's fears of Covid-19 subsided,” said Swiggy. “Certain micro pockets within the country have also reached 200 per cent of their pre-Covid levels,” it added.

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First Published: Oct 13 2020 | 7:11 PM IST

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