Zomato users can now buy and resell event tickets
What's the story
Zomato has announced a new feature called "book now, sell anytime" for its app users.
This innovative functionality will allow customers to buy tickets for events, and resell them if they no longer wish to attend.
The feature will be launched on September 30, coinciding with the opening of bookings for Zomato Feeding India Concert headlined by Dua Lipa.
Ticket resale
Reselling process and pricing flexibility
Zomato Live Entertainment's CEO Zeenah Vilcassim explained the reselling process in a blog post.
If a user's plans get changed, they can list their ticket on the Zomato app at a price lower or higher than their original purchase price.
Once another customer buys the listed ticket, Zomato will cancel the seller's ticket and issue a new one to the buyer.
Fair pricing
Measures to prevent touting
To prevent ticket touting or unfair pricing, Zomato has implemented certain restrictions.
A customer can buy up to 10 tickets per category for resale.
The maximum price at which they can list their tickets is capped at twice the current price on the Zomato app.
If all tickets for an event are sold out, this cap will be twice the final price.
Business growth
Zomato's expansion into the 'going-out' segment
The introduction of this new feature follows Zomato's recent acquisition of Paytm's entertainment and ticketing business for ₹2,048 crore.
This move is part of the food delivery giant's plan to expand its presence in the 'going-out' segment.
The transaction was approved by both Zomato and Paytm's boards on August 21, marking a significant step in Zomato's business growth strategy.