Swiggy, the leading food delivery major, has taken a significant step to enhance its services. In a bid to bolster traffic to its morning grocery delivery platform, InsanelyGood, the company has seamlessly integrated it with its main app, as informed by sources familiar with the matter.
In March, the service formerly known as SuprDaily underwent a rebranding and is now recognized as InsanelyGood. Presently, it operates exclusively in Bengaluru, where Swiggy, its parent company, has its headquarters. This decision followed a reduction from operating in six cities the previous year, a strategic move aimed at minimizing cash-burn.
According to a source familiar with the matter, the service is planned to remain exclusive to Bengaluru in the foreseeable future. Customers placing orders on the platform before 11 pm can expect their orders to be fulfilled by 7 am the following day.
“(InsanelyGood) is currently a pilot in Bengaluru and can be accessed through the ‘InsanelyGood’ tile on the Swiggy platform, which takes you to the app. The InsanelyGood app is also available to download,” a Swiggy spokesperson said in a statement.
Swiggy, backed by Prosus, acquired the firm in 2018 and later integrated it into a unit under its parent entity in 2021. This strategic move brought Swiggy into direct competition with other players like Tata-owned BigBasket, Amazon Fresh, and Reliance-owned Milkbasket. Notably, Milkbasket is currently undergoing a significant downsizing of its team, as initially reported by Entrackr.
Integrating multiple services into a single app is not a new concept in the grocery industry. For example, BigBasket consolidated its main scheduled delivery service, quick commerce offering, and beauty store onto its primary app, which they internally refer to as their ‘super app.’ This approach allows customers to access and utilize various services conveniently from one centralized platform.
In addition to InsanelyGood and its core food offering, Swiggy’s main app serves as a host for several other services. These include their pick-and-drop service, Genie, the restaurant scouting and booking app, Dineout, the quick commerce service, Instamart, and the aggregated selling platform, Minis. By incorporating these diverse services into a single app, Swiggy aims to provide users with a comprehensive and seamless experience for various needs.
In June, Prosus, the prominent investor in Swiggy and the Dutch-listed arm of South African technology investor Naspers, disclosed that the company’s losses had surged by 80% compared to the previous year in the January-December 2022 period. However, during the same period, Swiggy also experienced a notable 26% growth in food-delivery Gross Merchandise Value (GMV).
According to the Founder and group CEO, Sriharsha Majety, in May, the firm’s core food delivery business achieved profitability in March 2023. This milestone was reached after considering all corporate costs, but excluding Esops (Employee Stock Ownership Plans).
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