Swiggy is the biggest competitor of Zomato. However, the company aims to expand into other areas as well, reducing its reliance on the highly competitive food delivery market, which has very low profit margins. After introducing innovative features like grocery and Swiggy Genie, the company is now challenging social commerce with a whole new feature called Swiggy Bazaar.
This was revealed in the work of the company Post In LinkedIn and Getworks, it says:
“Swiggy Bazaar is the latest breakthrough in the $1 trillion grocery market and is a buyer for community groups. As with last year’s blockade, consumers searched for new ways to access better food, and some of these actions have proven resilient and created a tailwind for the ride to market. “
According to the job listing, “Marketer, a social commerce business, will experiment with new community-based marketing strategies to help them conceptualize and implement.”
This news was first revealed Entracker in the report.
Social commerce is still a relatively new concept in India, but it has caught the attention of some epic players who have deep pockets. DealShare, which recently raised $144 million, and newly-born unicorn Meesho are already challenging this approach to e-commerce.
It allows community leaders to form groups to shop together and provides financial incentives in the form of commissions to these leaders. They shop in bulk for the entire community and they rely on their products to be delivered. The company is also benefiting from gaining access to new members who may not have used the service before.
People are already using Swiggy to buy groceries, so this social commerce platform can attract new users. Unlike Zomato, which is betting almost exclusively on food delivery (and Recent IPO Swiggy is always more open to try new ideas.
Swiggy working to enter social commerce industry with “Swiggy Bazaar”
Source Link Swiggy is working with “Swiggy Bazaar” to enter the social commerce industry