financetom
Business
financetom
/
Business
/
Young Turks: Here's how India's food delivery market performed in the unlock phase
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Young Turks: Here's how India's food delivery market performed in the unlock phase
Oct 1, 2020 1:56 PM

In May this year, a survey by Red Seer said it will take India's $4 billion food delivery sector at least 12 months to return to pre-COVID levels across top metros and maybe even longer in smaller towns and cities.

But India's love for food along with an efficient food delivery ecosystem has proven all pundits wrong. The sector is back on the growth track, with most cities now clocking a growth of over 85 percent of the pre-COVID gross merchandise value.

While as predicted, the recovery was led by metro cities. In many markets, food delivery is now at 95 percent and in some more than 100 percent of the pre-COVID levels, according to data collated by Swiggy.

Order volumes in over 70 cities are back to normal. Interestingly, as people continue to stay at home, Swiggy has seen a growth of 30 to 40 percent in average order value over pre-COVID levels. Also as IPL kicked off, food orders have doubled across tier 2 and 3 cities.

If you are wondering what Indians love to eat, chicken biryani wins hand down, and it's the most ordered item on Swiggy pan India to be finished with a generous dose of choco lava cake. To discuss the outlook for the food delivery sector in India, Shereen Bhan spoke to Vivek Sunder, chief operating officer of Swiggy.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
ASML CEO Expects US To 'Apply Pressure' To Ramp Up China Chip Restrictions: What You Need To Know
ASML CEO Expects US To 'Apply Pressure' To Ramp Up China Chip Restrictions: What You Need To Know
Oct 22, 2024
ASML Holding NV ( ASML ) CEO Christophe Fouquet anticipates growing pressure from the United States to tighten restrictions on semiconductor technology sales to China. Here’s what you need to know. The Details: Speaking at the Bloomberg Tech Summit in London on Tuesday, Fouquet stated that the geopolitical landscape suggests the U.S. will continue urging its allies for more stringent...
Elliott sees more upside at Suncor, almost doubles stake to nearly $3 bln
Elliott sees more upside at Suncor, almost doubles stake to nearly $3 bln
Oct 22, 2024
NEW YORK, Oct 22 (Reuters) - Two years after first pressing for changes at Canada's Suncor Energy ( SU ), Elliott Investment Management is so convinced that ongoing improvements will yield a higher share price that it has nearly doubled the size of its investment. Elliott now owns a stake of nearly $3 billion in the company, up from the...
BRIEF-Applied Nutrition'S London IPO Likely To Price Near Low End - Bloomberg News
BRIEF-Applied Nutrition'S London IPO Likely To Price Near Low End - Bloomberg News
Oct 22, 2024
Oct 22 (Reuters) - Applied Nutrition PLC : * APPLIED NUTRITION'S LONDON IPO LIKELY TO PRICE NEAR LOW END - BLOOMBERG NEWS * SHARES OF APPLIED NUTRITION ARE EXPECTED TO BE SOLD AT 140 PENCE EACH, NEAR THE LOWER END OF ITS ORIGINAL 136 TO 160 PENCE RANGE - BLOOMBERG NEWS Source text: https://tinyurl.com/298pfrau Further company coverage: ...
Steel Dynamics Insider Sold Shares Worth $1,295,450, According to a Recent SEC Filing
Steel Dynamics Insider Sold Shares Worth $1,295,450, According to a Recent SEC Filing
Oct 22, 2024
01:45 PM EDT, 10/22/2024 (MT Newswires) -- James Stanley Anderson, Senior Vice President, on October 22, 2024, sold 10,000 shares in Steel Dynamics ( STLD ) for $1,295,450. Following the Form 4 filing with the SEC, Anderson has control over a total of 88,063 shares of the company, with 88,063 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1022671/000106299324017838/xslF345X05/form4.xml Price: 131.64, Change: -1.81,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved