In the six months ended September 30, Swiggy’s food delivery revenues grew 56 per cent and were 91 per cent above the pre-Covid-19 levels, according to the interim results for FY22 released by Swiggy’s investor Prosus.
Swiggy’s grocery revenues grew 75 per cent compared to March. The company attributed the growth in revenue to higher demand during the second Covid-19 wave and company’s expansion of Supr Daily and Instamart in the groceries business.
Swiggy is said to have reactivated 1,28,000 restaurants on the platform which is the same as the company’s pre-Covid numbers. Further, the food delivery platform achieved 1.59 million orders per day, and GMV of $984 million, which is up 69 per cent on the comparable period.
“Our share of revenue was $87 million for the six months, which is up 6 1per cent. This growth reflects higher average order values compared to pre-pandemic periods and higher revenues from delivery fees and advertising sales,” Prosus added.
Launched Swiggy One
The food delivery major on Monday launched its upgraded membership programme ‘Swiggy One’, which will offer members unlimited free deliveries, discounts and other benefits across all services. In the coming months, additional discounts and benefits will be extended to Swiggy’s other offerings such as pick up and drop service Swiggy Genie and Meat stores.
Swiggy One is a single-tier membership programme that will offer unlimited free deliveries from over 70,000 popular restaurants along with unlimited free Instamart deliveries on all orders above ₹99. Additionally, members will be able to avail extra discounts of up to 30 per cent on their food orders from partner restaurants. Swiggy One also plans to soon extend its members discounts on Genie deliveries as well.
Currently, Swiggy One membership is being offered at an introductory price of ₹299 for the first three months and at ₹899 for 12 months which means, a member will spend just ₹75/month for the annual plan. The programme is currently live in four cities including Lucknow, Pune, Thiruvananthapuram and Vijayawada, and will expand to 500+ cities in the next two weeks.