wordpress blog stats
Connect with us

Hi, what are you looking for?

What is Swiggy’s new social commerce venture ‘Swiggy Bazaar’ all about?

Swiggy has doubled down on the online grocery market through multiple offerings, each targeting a different customer segment.

In yet another attempt to diversify its offerings and increase its focus on non-food delivery segments, Swiggy is exploring social commerce through a brand called Swiggy Bazaar, Entrackr reported on October 12.

Swiggy Bazaar, which is expected to first launch in Bengaluru and Gurugram in the coming months, will be focused on grocery, FMCG, and fresh farm produces and will follow a group-buying model, the report stated.

What is a group-buying model?

Group buying is one of the many models that social commerce ventures pursue and it involves consumers being able to avail themselves lower prices by buying collectively. For example, Swiggy will communicate deals to a local influencer or a community entrepreneur who in turn will try to get as many people to avail the deal as possible. This person will then place the order on behalf of everyone and get the goods from Swiggy. Upon distributing these to all the buyers, the influencer will be given a commission by Swiggy.

“These local influencers are well entrenched in their communities and trusted by those in the neighbourhood, which helps garner more customers for the platform. […] Social commerce companies incentivise them through monetary benefits, as these influencers help them tap into tier 2 cities and beyond,” Economic Times explained.

According to a job listing for a Manager for Swiggy Bazaar, the new brand will “operate like a startup within Swiggy” and  “will be a community group buying destination.” The business will experiment with “novel community-based marketing strategies” the listing says.

Advertisement. Scroll to continue reading.

One more grocery-focused business in Swiggy’s portfolio

Swiggy has been doubling down on the online grocery market through multiple offerings, each targeting a different customer segment:

  • Instamart: Instamart, which allows grocery ordering from within the main Swiggy app, is focused on quick deliveries. The major competitors in this segment are Tata-owned BigBasket, Zomato-backed Grofers, and new-entrant Jio Mart.
  • Supr Daily: While delivering almost the same range of products as Instamart, Supr has its own dedicated app and is focused on subscription-based orders of daily essentials like milk and eggs rather than fast, one-time orders. The major players here are Reliance-owned MilkBasket, Dailyninja, and BigBasket Daily.
  • Swiggy Bazaar: And now, Swiggy Bazaar, which will tap into tier 2 and tier 3 cities using its community-focused model. Bazaar will be in direct competition with Meesho’s Farmiso, DealShare, and CityMall, which all engage in group buying-based social commerce focused on grocery.

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 — Swiggy Bazaar job listing

Swiggy’s focus on grocery is because of the potential the market holds. “This business is 10x the size of the food services industry,” Swiggy CEO Sriharsha Majety said last month while announcing that Supr Daily will be made a separate business unit within parent company Bundl to accelerate its growth.

In addition to the grocery brands, Swiggy also runs a hyper-local package delivery service called Genie that competes with Dunzo.

Also Read

Have something to add? Post your comment and gift someone a MediaNama subscription.

Advertisement. Scroll to continue reading.
Written By

Click to comment

You must be logged in to post a comment Login

Leave a Reply

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ