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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. One more grocery-focused business in…

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