magicNow to contribute 20% to total food delivery biz this fiscal: magicpin CEO

Hyperlocal e-tailer magicpin expects its quick commerce arm, magicNow, to contribute 20% to the overall food delivery business this fiscal, a top official of the company said on Monday.

Launched in September 2024, magicNow contributes 13% to the overall food delivery business of the company, Anshoo Sharma, Founder and CEO of magicpin, told PTI.

"With magicNOW - 15 minute quick delivery vertical already contributing 13% of our total food delivery orders, we're well on track to scale this to 20% by the end of the financial year ," he said.

magicpin has expanded magicNow services from 6 metros to 20 high-density cities since its launch.

" magicNow is showing 10% higher monthly retention than the magicpin's platform average. We have received a strong response from both consumers and restaurant partners, especially local merchants, and will continue to double down on this high-growth vertical," Sharma said.

Sharma said that magicNow has scaled up its merchant and restaurant network from 3,000 to over 21,000 since inception, including brand stores such as McDonald's, Taco Bell, Chaayos, Wendy's, Faasos, Burger King and local eateries.

Overall, magicpin claims to have a network of 2,75,000 retailers and around 3,000 brands across categories—fashion, food, electronics, grocery, nightlife, and entertainment on its platform.