Swiggy to enter ecommerce with Minis, a new D2C marketplace
Food delivery platformis currently piloting Minis, a platform to enable small businesses, individual entrepreneurs, and direct-to-customer (D2C) brands, a company spokesperson told YourStory.
"We are continuously experimenting with ways in which we can delight our customers and enable our brand partners to succeed...to showcase their offerings directly to lakhs of customers,” added the spokesperson.
D2C vendors of smaller businesses need access and visibility, and that is where Swiggy is looking to help smaller businesses, a source aware of the matter said. The startup is currently in the process of onboarding sellers for the pilot and will be focusing on discovery and ordering.
Swiggy’s delivery fleet will not be handling orders placed on Minis, and the merchant will fulfil the orders accordingly, sources in the know told YourStory.
Economic Times reported that this is not a hyperlocal play but a national marketplace.
Swiggy’s business stack already includes a food delivery business, quick commerce platform Instamart, pick-up and drop service Genie, meat delivery, in-house food brands, and speciality stores.
The food delivery business contributes to 75 percent of the startup’s overall revenue while the remaining 25 percent comes from the non-food delivery business, including Swiggy Genie, Instamart, and SuprDaily.
Earlier this January, Swiggy raised $700 million in funding, at a valuation of $10.7 billion.
At the time, CEO Sriharsha Majety said, “The GMV our food delivery business achieved in 40 months, took Instamart just 17 months, demonstrating the platform benefits of Swiggy. We will double down on this to build more categories in line with our mission of offering unparalleled convenience to Indian consumers."
Two weeks ago, Swiggy announced the acquisition of restaurant tech platform Dineout.
(With Inputs from Sindhu Kashyap)