Swiggy now delivers your food orders in just 10 minutes
What's the story
Swiggy, a prominent food delivery platform in India, has launched a new service named Bolt. This initiative promises to deliver meals within just 10 minutes across select areas of major cities. The Bengaluru-based company has collaborated with over 2,700 restaurants for this venture, including international chains like KFC, McDonald's, and Starbucks.
Service details
Bolt's operational strategy and aim
Bolt operates within a 2km radius of customers, focusing on items that can be prepared quickly. The service is currently offered in key locations across Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune. Rohit Kapoor, Swiggy's head of food delivery stated that the aim of Bolt is to "reduce wait times for frequently ordered items like coffee, burgers and biryani."
Market influence
Swiggy's impact on India's quick-commerce market
The introduction of Bolt marks a significant development in India's rapidly expanding quick-commerce sector, which has seen growth of over 100% within a year. This move by Swiggy intensifies competition with other players like Zomato's Blinkit, Instamart (Swiggy's own quick-commerce platform), StepStone-backed Zepto, and Tata-owned BigBasket. These companies are transforming shopping habits by catering to consumers' growing demand for instant gratification across a wide range of products.
Delivery dynamics
Bolt's impact on delivery partners and e-commerce
Swiggy, which serves millions of customers across 600 cities every month, has clarified that its delivery partners will not be penalized or rewarded based on the timing of Bolt orders. This is because they are not informed about the difference between Bolt and regular orders. The rise of quick-commerce platforms like Bolt is also impacting traditional e-commerce giants, prompting companies like Flipkart to launch their own quick-commerce services.