Govt-backed ecommerce platform ONDC reaches 50,000 restaurants
The number of restaurants on the open network increased from 500 in February 2023 to 50,000 in August 2023.
, the government-backed ecommerce protocol, has announced that 50,000 restaurants across 172 cities are now live for online ordering on its network.
The number of restaurants on the protocol increased exponentially over the past six months—from 500 in February 2023 to 50,000 in August 2023.
“What started with our first order in Sept’ 22, the Network has onboarded over 50,000 restaurants till now! As we continue to grow and expand, we are excited about the future of online food delivery in the all-new no-barrier ecommerce ecosystem and our role in shaping it,” said T Koshy, MD and CEO of ONDC.
Seller Network Participants (NPs) play an essential role in bringing restaurants on board and driving F&B category growth within ONDC. They include, , , eSecond, , , , and eSamuday. By the end of 2023, ONDC aims to double the number of restaurants.
The ONDC network enables food ordering through buyer apps such as Paytm, Pincode, magicpin, Mystore, and others.
Incorporated in December 2021, the ONDC initiative aims to establish open protocols for all aspects of digital commerce, allowing buyers and sellers to use any compatible application or platform to conduct transactions. It is designed to foster open, unbundled, and interoperable networks.
According to an equity research report by ICICI Securities, 50,000 retail merchants currently contribute 15,000-20,000 daily transactions to the platform. The mobility sector is responsible for an additional 60,000 transactions a day on the platform.
The government-promoted network aims for 200,000 daily transactions from retail and mobility sectors by the end of the year, focusing on scalability and appealing to diverse businesses.
The network is developing a network-wide scoring system for sellers, combining rating, scoring, and badging components. The goal is to provide a unified, reliable metric for buyers and sellers to evaluate each other's performance.
Edited by Kanishk Singh