Swiggy launches affordable membership plan Swiggy One Lite

Hyperlocal food and grocery delivery platform Swiggy has introduced a new and more affordable version of Swiggy One called Swiggy One Lite, aimed at drawing in price-conscious consumers.

Swiggy One Lite will offer free deliveries, exclusive offers, and discounts at a launch price of just Rs 99 for three months, the company said in a blog post on Monday.

With the Lite membership, users can avail of 10 free deliveries on food orders above Rs 149 along with 10 free deliveries on Instamart orders above Rs 199. Members will also receive up to 30% extra discounts across more than 20,000 restaurants over and above the regular offers, according to the Prosus-backed firm.

One Lite members will also get a 10% discount on Swiggy Genie deliveries over Rs 60.

The subscription plan will also be offered as business-to-business (B2B) memberships by bundling with products of brand partners in telecom and banking. Brands have been bundling the Swiggy One Lite membership with their own products to delight their customers with a valuable membership programme and introduce them to the unparalleled convenience of Swiggy.

Bundling multiple offerings under a single subscription plan is likely to help boost subscriber figures. Swiggy launched Swiggy One in November 2021 to allow users unlimited free deliveries from select restaurants, free deliveries for Instamart orders, and zero surge fee, among other features.

"After a successful B2B launch with leading players, we’re excited to introduce Swiggy One Lite on the Swiggy platform as a pocket-friendly alternative designed to bring value to our customers, especially those yet to experience the unparalleled benefits of the Swiggy One program," Anurag Panganamamula, Vice President of Revenue and Growth at Swiggy, said.

In July, Swiggy launched a co-branded credit card in partnership with HDFC Bank, shortly after rival Zomato discontinued its credit card partnership with RBL Bank.

The Sriharsha Majety-led company has been attempting pivots in multiple categories in the last few months. In March, Swiggy rebranded its morning grocery delivery service SuprDaily to InsanelyGood to offer more than 3,000 locally sourced and organic food items.

It started testing a new ecommerce feature in its app, Maxx, with the promise to deliver orders within an hour.

Swiggy introduced a neural search feature powered by artificial intelligence (AI) to enable voice typing and tailored recommendations for food and grocery delivery.

The company is said to have restarted its initial public offering (IPO) plans after halting it earlier this year following weak market sentiment, Reuters said in a report in August. It aims to list the company on Indian bourses by July-September 2024.