Swiggy CEO Sriharsha Majety at the entrance of rapid in the delivery of food, and brandedquity

With quick that tries to enter the food deliveries market, the founder and CEO of the Swiggy Sriharsha Makety group said that the company based in Bengaluru has remained “agile and paranoid”, ready to respond quickly to any emerging opportunity.

Answering a question about the potential impact of rapid in the food delivery space, Majety said that while every company will turn its course – the past experience has shown that surviving and downsizing in the category was far from easy.

He was talking to an event of investors organized by Prosus in London. Prosus is a common investor in Swiggy and quick. In addition, Swiggy has a 15% of participation In the rapid urban mobility company.

“In 2015 there were a dozen players in the delivery of food. In 2017, Uber and Ola launched the hat in the ring. So, in 2019, Amazon threw the hat into the ring. In 2021, in 2021, there was the entrance of Ondc,” said a break, adding a merit, adding a merit to take a house to help. with.”“I think it will be interesting to see if there is an alternative grip to the delivery of food that can grow the category because we are also waiting for a little more growth,” he said. “We are definitely super agile and paranoid. If we see a new opening, we will be there everywhere.”

On June 9, and reported that rapid had Finished online food delivery partnerships and terms with restaurants. The platform is charged a fixed commission of RS 25 on orders lower than RS 400 and RS 50 on orders above RS 400 as restaurants of restaurants. This translates into a range of commissions of 8-15% from restaurants, compared to 16-30% charged by its rivals Zomato And Swiggy. “If there is an opening, we will be out there in weeks. We will try our luck with the customer to grow the category. We will not wait and look and look at,” he added.

Quick Consolidation of Commerce

Speaking of the various players who emerged in the 10 -minute food delivery space, Makety said that the estimated size of the segment in a few years could allow more than two companies but not from five to six.

“At this point, the rapid trade market is directed towards a dimension of $ 30-40 billion in three or five years. Those dimensions can support more than two players, but it is unlikely that it can support from five to six players,” said Majaty, adding that the sector could see a certain level of consolidation.

Currently, the first three players in rapidly trade-Binkit, Zepto and Swiggy’s Instamart-they have about 85-90% of the market share, decreasing from 90-95% around three or four months ago, according to a report by the BOFA Global Research intermediation company. The remaining share is held by BigBasket supported by Tata Digital, Flipkart Minutes, Amazon Now and Jiomart of Riliance Retail.

The research note, and reported on Tuesday, also said that Jiomart was It is unlikely that it becomes one of the first two players in rapid trade.

“We can expect a little consolidation … if you look at the structure of the category, there are three main players and four marginal players. There would be a little consolidation, but in some cases, there may not even be a need because the inheritance and -Commerce may want to continue offering an offer in an attempt to remain relative for their consumers … it could continue to expand the piece as we already see you today”.