ONDC FOOD DELIVERY
Magicpin reports 100% annual increase in brand onboarding
Magicpin, an offline fashion discovery platform, has seen a 100% year-on-year increase in brand on-boarding, adding 1000 brands across fashion, QSR, and fine dine categories. Over 75,000 local merchants have been added in the last 12 months, with 80% becoming transactional within the first month.
TCS Q1 results; Pine Labs, Swiggy valuations slashed
Indian IT bellwether TCS kicked off the tech earnings season with a 9% YoY growth in net profit for the June quarter. This and more on today's ETtech Top 5.
Food services sector may grow at 8% CAGR in 2024-28: NRAI report
The food services sector in India is set to grow at a CAGR of 8.1% from 2024-2028, reaching Rs 7.8 lakh crore by FY28. According to the report, rising incomes, urbanisation and changing lifestyles are significantly increasing the frequency of dining out.
Tech-first brokers hit a snag; Foxconn’s Bharat FIH in trouble
Happy Thursday! Online stock brokers, who used low fees to attract customers, now face an uncertain future with Sebi’s new rules. More on this in today’s ETtech Morning Dispatch.
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
Food delivery market size to cross Rs 2 lakh crore by 2030: Bain-Swiggy report
The online food delivery market in India is on a significant growth trajectory, with Zomato leading in market share. Swiggy's overall gross order value has been increasing, as reported by Prosus. By 2030, the industry is set to witness substantial expansion, driven by convenience and improved customer experience.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
Food delivery companies lean on existing users for growth
In light of a slowdown in new user signups, Zomato and Swiggy are implementing strategies to increase order frequency among their existing customer base. This approach aims to drive growth despite the challenges in user acquisition.
Online eats into offline; Agnikul defers rocket launch
The rapid adoption of quick commerce and food delivery apps is eating into the sales of retail, and quick service restaurants. This and more in today’s ETtech Top 5.
Zomato, Swiggy Instamart clock record orders on Mother's Day, beat New Year's Eve numbers
On Mother's Day, quick commerce and food delivery platforms saw high demand for gift items like flowers, handbags and chocolates.
Paytm app launches auto-rickshaw booking feature via ONDC
Paytm introduces auto-rickshaw booking on its app through ONDC and Namma Yatri for users in NCR, Bengaluru, and Chennai. ONDC tab includes food, groceries, and rides. Pai Platforms facilitates the service with significant mobility transactions.
ONDC’s first buyer side logistics app to fix a big gripe
MP2 Innovations, led by Mahesh Herle, enhances ONDC by providing a seamless logistics solution for ecommerce players, aiming to address operational challenges and improve delivery experience. Integration with major ecommerce platforms is crucial for ONDC's growth.
Government push to help ONDC get shopfront on ecommerce sites
The Centre has asked Amazon and Flipkart to set up Open Network for Digital Commerce (ONDC) storefronts on their home pages to help the government-backed network scale up operations and assist with deliveries, said executives aware of the development. The aim is to boost operations and order efficiencies as well as iron out glitches and delays on ONDC, they said.
PhonePe’s Pincode exits non-food categories in ecommerce business rejig
PhonePe is restructuring its ONDC strategy by exiting several non-food categories. The Walmart-owned company unveiled its ecommerce venture Pincode on ONDC in 2023 offering grocery, food delivery, medicines, fashion and electronics among other categories on the network.
Domino’s Pizza expands reach with ONDC entry
Sameer Khetarpal, managing director at JFL said the partnership with the ONDC Network is a “significant milestone and step forward” for Domino’s. T Koshy, managing director at ONDC said Domino’s joining ONDC “is a significant development with the potential to create ripple effects for the foods and beverages category on Open Network.
Magicpin food delivery order doubles to 10 lakh on ONDC during World Cup
Magicpin said that it delivered 35,000 food orders during the India versus Pakistan match on October 14. The orders peaked at 50,000 on a single day during the India versus Australia match.
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